Mosaic Private has taken home the prestigious Best Private Debt Manager award at the 2025 Hedge Funds Rock & Australian Alternative Investment Awards, held on Wednesday 24 September in Sydney. The award recognises excellence in performance, governance, and innovation in the private debt space, all of which have been defining hallmarks of Mosaic Private and its flagship fund, the Mosaic Capital Fund.
The award highlights Mosaic Private’s growing reputation as a disciplined, high-performing private credit manager in the Australian alternative investment landscape. It also underscores the growing investor appetite for well-structured and transparent private credit vehicles, especially in light of recent findings from the Australian Securities and Investment Commission (ASIC) Report 814: Private Credit in Australia, which flagged the need for stronger governance and transparency in the sector.
At the heart of Mosaic Private’s success lies the Mosaic Capital Fund, a private debt fund focused on providing tailored lending solutions to mid-market Australian businesses. The fund has demonstrated robust performance by focusing on asset-backed loans, rigorous credit assessment, an investment committee providing independent check-and-balance on asset selection, as well as active management of portfolio risk. It serves a dual purpose. As a result the fund is designed to offer investors attractive risk-adjusted returns while supporting the growth and capital needs of small-to-medium enterprises (SMEs) across Australia.
But what sets the Mosaic Capital Fund apart is not only its investment strategy, it’s also the structural integrity of the fund itself.
Independent Governance: The SILC Group
A critical part of the fund’s framework is its partnership with The SILC Group (SILC), which acts as the independent trustee for the Fund.
SILC offers more than operational support. It provides a trusted layer of governance, compliance, and investor protection that is increasingly important in today’s regulatory environment.
This is particularly timely, given ASIC’s Report 814, which highlighted risks in the rapidly growing private credit market. The report called out poor disclosure, conflicts of interest and weak oversight as key concerns, prompting a push for fund managers to adopt stronger independent governance frameworks. The Mosaic Capital Fund exemplifies how these concerns can be effectively addressed through the use of SILC, as an experienced and independent trustee.
Five Trustee Services Provided by SILC
SILC provides a comprehensive suite of trustee and fiduciary services that strengthen the overall integrity of the Mosaic Capital Fund.
- Independent Oversight and Governance
SILC provides robust oversight over the fund’s operations, including monitoring investment activities, adherence to mandates and ensuring compliance with legal and regulatory requirements. This independent check-and-balance system mitigates potential conflicts of interest and ensures decisions are made in investors’ best interests.
- Investor Safeguards and Asset Protection
SILC holds fiduciary responsibilities that ensure fund assets are safeguarded, appropriately administered and accounted for. This gives investors peace of mind that their capital is being managed within a secure legal and operational framework.
- Compliance Monitoring and Reporting
The trustee ensures the fund complies with relevant laws, regulations and fund documentation. This includes regular reviews of the fund’s investment activities, loan documents, reporting standards and risk management processes.
- Independent Administration and Transaction
SILC oversees the administration and flow of funds, ensuring proper documentation, authorisation, drawdowns and settlement of all transactions. This reduces operational risks and enhances accountability within the fund.
- Transparency and Reporting to Investors
Through detailed and independently verified reporting, SILC facilitates greater transparency, which enhances investor confidence. Investors receive regular and accurate updates on fund performance, portfolio holdings and any material changes.
Responding to ASIC’s Concerns
ASIC’s Report 814 served as a wake-up call for many fund managers in the private credit space. It outlined serious concerns around transparency, risk disclosure, and governance standards, particularly in the absence of third-party oversight.
Mosaic Private’s actions, through its collaboration with SILC, demonstrates a proactive and responsible approach to private debt investing. By embedding strong independent governance into its fund structure, Mosaic not only meets but exceeds the expectations set by regulators, institutional investors, and advisers.
This has been a key differentiator for Mosaic Capital Fund, allowing it to attract both wholesale and sophisticated capital with confidence.
This document is provided by Specialised Investment and Lending Corporation Ltd (Trustee) ACN 149 520 918 together with Mosaic Capital Private Pty Ltd ACN 637 198 586 (Investment Manager) which is a corporate authorised representative (number 001292721) of SILC Fiduciary Solutions Ltd ACN 638 984 602 (AFSL 522145). The authority of the Investment Manager is limited to general advice and dealing by arranging services to wholesale clients relating to the Mosaic Capital Fund (Fund) only. The Fund’s Information Memorandum (IM) dated 17 June 2024, issued by the Trustee (AFS licence number 407100) which offers investors an opportunity to subscribe for units in the Fund is available. If you would like to receive a copy of the IM, please email investors@silcgroup.com or investors@mosaicprivate.com. Information contained in this document has been prepared without taking into account the objectives, circumstances, financial situation or needs of any person, and may differ to information contained in the IM. Prospective investors should carefully consider the contents in the IM in full and seek professional advice prior to making any decision regarding an investment in the Fund. Refer to the Fund IM for further details. This summary is not an offer or solicitation to purchase interests in the Fund. Such interests are only offered pursuant to the terms of the IM which should be reviewed carefully prior to investing. The Trustee and Investment Manager and its affiliates expressly disclaim any responsibility and shall not be liable for any loss, damage, claim, liability, proceeding, cost or expense arising directly or indirectly and whether in tort (including negligence), contract, equity or otherwise out of or in connection with or from the use of the information in this document. This document represents the opinions of the Trustee together with the Investment Manager and is the product of internal research and does not in any way constitute an invitation or offer in relation to any financial product. The strategies and opinions expressed herein are based on current market conditions and are subject to change without notice. No reliance may be placed on this document for any purpose nor used for the purpose of making a decision about a financial product or transaction. Past performance is not a reliable indicator of future performance. Net returns are net of fees and expenses but before tax. Target returns are not guaranteed and total returns may be above or below the target range. All investments carry risks, including the potential loss of principal and the strategies discussed may not be suitable for all investors. Prospective investors should conduct independent analysis and seek professional advice prior to making any decision. This Fund is exclusively available for investment by wholesale clients as defined under the Corporations Act 2001. The information provided herein does not constitute an offer to retail clients or the general public.
© 2025 Hedge Funds Rock and the Australian Alternative Investment Awards. All rights reserved. The information, data, analyses, and opinions contained herein include the proprietary information of Hedge Funds Rock and the Australian Alternative Investment Awards and may not be copied or redistributed without prior approval, do not constitute investment advice offered by Hedge Funds Rock and the Australian Alternative Investment Awards and are provided solely for informational purposes and therefore are not an endorsement of a fund or fund manager. Hedge Funds Rock and the Australian Alternative Investment Awards shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses, or opinions or their use. Hedge Funds Rock and the Australian Alternative Investment Awards does not guarantee that a fund or fund manager will perform in line with its nominated award as it reflects past performance only. Likewise, any award should not be any sort of guarantee or assessment of the creditworthiness of a fund or fund manager or of its underlying securities and should not be used as the sole basis for making any investment decision.
