Podcast: Adrian Redlich - Double digit returns from asset backed debt

David Clark

Koda Capital


Adrian runs the Merricks Capital Partners Fund, a fund that provides senior asset secured debt to real estate, agriculture & occasionally infrastructure. The fund has provided investors with consistent returns of 12% p.a. net of fees (as at Feb 2020) with relatively low levels of volatility and an overall loan to value ratio of less than 60%.

Throughout the episode, Adrian discusses the impact of COVID-19 including the fund's recent performance and uplift throughout March, which was amplified by the fund's hedge in credit default swaps. These swaps which were incorporated at a relatively low cost, have provided investors with downside protection against both economic meltdowns & liquidity crises. Adrian believes that these swaps will continue to provide protection should financial markets further deteriorate.


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Adviser & Partner
Koda Capital

David Clark is an Adviser & Partner at Koda Capital. In his podcast ‘Inside the Rope’, David interviews some of the leading minds in wealth management.

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