Investment Fund Manager + Private Capital Partner in the Australian Commercial Property Sector

Letter from PrivateInvest Founder and Group Executive Chairman

Welcome to PrivateInvest

PrivateInvest was established over a decade ago to provide investment opportunities to wholesale and sophisticated investors through its lending to qualified borrowers in the Australian commercial property sector.

At PrivateInvest, we combine the best of large and small-sized financial service providers to deliver a personalised service to both investors and borrowers. As an investment fund manager in non-bank lending with an impressive pedigree in funds management, we are large enough to offer you the expertise, industry leadership, and governance expected of major financial institutions, but are small enough to ensure both borrowers and investors have direct access to all team members when required.

Our specialist finance team have extensive experience in structuring commercial property finance. Our investments provide capital for tailored property financing solutions to qualified borrowers in the middle development market segment and is supported by our professional services. With PrivateInvest, it’s personal.

We have an exclusive focus on real estate and commercial property development opportunities, offering a range of investment funds that provide market exposure to a professionally managed and nationally diversified portfolio of commercial property finance.

From a borrower’s perspective, our property specialisation and tailored approach to designing and delivering financing solutions means developers, investors and other stakeholders have access to value-adding,

structured finance from a team who genuinely understands property and the issues that drive project success.

To date, our funds have returned above-market risk adjusted rates of return and we have seen real loan book growth. This reflects a number of factors, not least of which is the skill of our Trustee Board, our technical management team and our Investment Review Committee who provide an exceptional competitive advantage in terms of loan and opportunity assessment, financial product design, and governance processes.

As our Funds grow in scale, the strategic objective for PrivateInvest is to maintain our BIG ENOUGH. SMALL ENOUGH. market position. PrivateInvest does not have to be the “biggest in town”, just strive to be the best in class and sector. Our objective is to be an optimum business model. The definition of “optimum” is: best, most likely to bring success or advantage. Our strategic objective benefits all stakeholders by having the right size resources to maintain being a transparent, trustworthy, forward-thinking and valuesbased investment business.

Yours faithfully,

Mark Roberts Group Executive Chairman

PrivateInvest –Investment Company

The loan portfolio platform has been grown in a measured way with investment returns forecasted to increase with the rise in wholesale interest rates. The loan portfolio spreads risk as it is across different Australian States, diversified by asset type, class, borrower local postcode locations.

Big enough. Small enough.

PrivateInvest is an Investment Fund Manager + Private Capital Partner to the Australian commercial property sector. Unlike traditional banks, we only finance projects in the property industry with a broader range of structured property finance. We combine the best of large and small-sized financial service providers to offer investors and borrowers an investment offering similar to larger institutional financial houses, but small enough that we can keep an active eagle eye over all of our property transactions.

Investment Fund Manager + Private Capital Partner to the Property Sector

At PrivateInvest, we offer wholesale and sophisticated investors the choice of four Fund/Trusts which provide investors a range of income returns, income distribution frequency and liquidity. Our investors have received above industry average risk adjusted returns, with no loss of capital or impairment in our history. We have established repeat business with our borrowers which are offered a range of structured finance solutions to meet the requirements of their project financing needs.

National Footprint and Diversification

We are big enough to have an Australian national portfolio of investment and finance providing investors and borrowers diversification by asset type, class, market location and entry timing but small enough that we have a very “hands on” approach to the business. PrivateInvest lends against property residual stock, development and construction, and site finance.

Time is Money

We are big enough to have the PrivateInvest Wholesale Funding Line which benefits our investors by lowering the risk when a Fund/Trust has excess cash reserves which dilute investment returns. The PrivateInvest Wholesale Funding Line allows borrowers the confidence to sign finance offers that are not subject to capital raising. We are still small enough that borrowers can talk direct to the credit decision makers which improves approval times.

Highly Experienced Team

We know property. Our specialist finance team has decades of property experience in structuring equity and debt for property transactions at leading investment firms and institutions. The combined experience extends across banking, direct development, construction, valuation and credit analysis. We are exceptionally placed to identify, assess, and work with qualified borrowers seeking finance for a range of development property projects across Australia.

Governance and Reporting

Our Trustee Board has Non-Executive Directors overseeing our highly skilled management team with additional oversight from our Investment Review Committee. PrivateInvest’s flexible risk assessment model is bolstered by our robust internal and external controls that oversee all aspects of the business including external independence, risk analysis and mitigation, regulatory compliance and is backed up by institutional grade investor reporting.

“We’re large enough to offer you the expertise, industry leadership, and governance expected of major financial institutions, but we are small enough to ensure both borrowers and investors have direct access to all team members when required.”

MARK ROBERTS

Group Executive Chairman

Our Sector and Our Business

With over five years track record, the PrivateInvest Fund and Trusts are now also capitalising on the higher inflation environment and rising interest rates equating to increasing returns to our PrivateInvest investors.

About PrivateInvest

■ PrivateInvest is an Investment Fund Manager + Private Capital Partner in the Australian commercial property sector.

■ Over five years of direct funds management track record since inception of our first Fund.

■ Loans Under Management exceed $125 million.

■ At PrivateInvest, we offer wholesale and sophisticated investors the choice of an Income Fund, Select Trusts or Capital Trusts, which provide investors a range of income returns, income distribution, frequency, and liquidity.

Secure Track Record

■ No impairments or capital losses since inception with a high focus on capital preservation.

■ Returning above industry average risk-weighted returns.

■ Established national database of introducers and commercial brokers (for new loans).

■ More than 50% of our investor base have increased their investment in a PrivateInvest Fund/Trust since their first investment, evidencing their conviction in PrivateInvest’s performance and track record.

■ PrivateInvest mainly offers borrowers registered first mortgage loans, but we do also offer registered second mortgage loans and preferential equity from our different Trusts.

Who We Are

Established Fund Manager

Growing Market Segment in Australia

Tailwind Market Growth

■ S&P Global estimates that the global private debt market has grown tenfold in the past decade, however, remains relatively immature in Australia.

■ As ADI Banks are subject to more stringent lending and capital requirements, their market share of the Australian CRE debt market is falling.

■ Non-Bank Lending in Australia reached a record high of $287.94 billion in 2021-22 and is forecast to grow 16.92% through to 2026-27 ($336.67 billion).

Activating the Next Stage of Growth

Investment Strategy

■ Evergreen Ratings Report – An independent investment ratings report from an agency that specialises in the analysis of wholesale or alternative investment vehicles is available to potential investors.

■ SQM Research Report – An additional independent investment ratings report is being commissioned to complement the Evergreen Report and provide investors two external ratings reports for due diligence for investment.

■ RBA Cash Rate hikes are increasing BBSY allowing lenders to increase rates and returns.

Non-Bank Lending –Commercial Real Estate

Non-Bank Lenders will be required to fund more than $50 billion in the Australian CRE debt market from 2021-2024.

Around the World:

■ S&P Global estimates that the global private debt market has grown tenfold in the past decade (2011-2021).

■ In 2008, in the US and Europe, Banks held a 55% share of first mortgage lending (Non-Bank Lending 45%). By 2019, this composition had inverted to 21% and 79%.

■ According to the European Central Bank, since the GFC in 2008, “the overall growth in financial assets can almost entirely be traced to non-bank entities which now represent more than half of the total financial asset holdings in the euro area”.

A demonstrated global shift in the deployment of debt via Non-Bank Lenders has seen investors realign their portfolio strategy through:

■ An emergence of demand towards private debt funds and away from volatile equities markets, meaning lower volatility and stable, riskadjusted returns.

■ Overseas investors, particularly Asian domiciled, are taking advantage of Australia’s growing Non-Bank Lending sector. For example, in 2021, Hong Kong investment giant Sun Hung Kai & Co created a $400 million real estate debt fund with a large focus on the Australian market.

Non-Bank Lending Sector Growth In Australia

Source: Ibis World (2022) Historical Forecast

In the Australian Market

■ Traditionally in Australia, NonBank Lenders have had limited exposure to large capital mandates, restricting their market share compared to Banks which have regular access to cheaper and more diversified funding e.g. deposits.

■ The market share of Australia’s ‘Big Four’ Banks in CRE lending is falling, currently at 70.3% in Q2 2022 and well below its 10-year average of 78.2%.

■ Driving the falling market share is a lack of appetite for early-stage construction and land subdivision loans, with Banks restricting first mortgage LVRs to 50-55% compared to their Non-Bank peers which remain at 60-65% LVR.

Given the prevailing local market conditions, coupled with the demonstrated success of the sector globally:

■ Non-Bank Lenders, which are not subject to increased regulation brought about by changes in APRA lending guidelines, are now attracting further institutional capital, for example:

+ Qualitas $700m Australian CRE mandate from ADIA (2022).

+ MaxCap ~$1b Australian CRE mandate from Apollo Global Management (2022).

■ Non-Bank Lending reached a record high of $287.94 billion in 2021-22 and is forecast to grow 16.92% through to 2026-27 ($336.67 billion).

Getting

beyond the ordinary in investment funds management and property finance.

Target Returns

8.25% to 9.25% per annum, post fees and expenses.

PrivateInvest First Mortgage Income Fund

MONTHLY INTEREST RETURNS PAID INTO YOUR BANK ACCOUNT

This Fund is a pooled, open-ended, unregistered mortgage Unit Trust for wholesale and sophisticated investors. Distributions are paid monthly.

The objective of the Fund is to provide wholesale and sophisticated investors with a professionally managed exposure to a nationally diversified portfolio of commercial finance secured by registered first mortgages over real estate.

The Fund has always met its target returns since inception over four years ago with a strong focus on capital preservation and liquidity.

This Fund is “pure play” meaning there is no subordinated debt in the Fund, or debt leverage to bolster the investment returns.

There have been no impairments, or loss of capital in the Fund.

Target Returns

7.50% to 11.00% per annum, post fees and expenses.

PrivateInvest Select Mortgage Trusts

YOUR CHOICE ON SELECTING AND INVESTING INTO INDIVIDUAL LOANS

The Trusts are mortgage trusts, structured as an unregistered Unit Trust, for wholesale and sophisticated investors.

A mortgage trust allows you to select the loan, or loans, you wish to invest in secured by registered first mortgages over real estate.

You can invest in Units in the Trust alongside others that are syndicated to the specific Loan you select. In this way, you can effectively select the level of participation you have, and which of the loans you invest in.

Other lenders can also syndicate in the loan under bi-lateral facility agreements with PrivateInvest.

Larger investors wishing to hold the entire loan by mandating PrivateInvest to source loans from its extensive network of loan brokers need to have a minimum investment in the PrivateInvest First Mortgage Income Fund. Smaller investors can register their interest with PrivateInvest and those Select Trust loans are syndicated with other smaller investors. The wide spread of target investment returns varies because of the types of assets being financed.

Target Returns

15.00% to 21%per annum, post fees and expenses.

PrivateInvest + Capital Trusts

FOR INVESTORS THAT UNDERSTAND THE CORRELATION OF HIGHER RETURNS AGAINST HIGHER RISKS

PrivateInvest First Mortgage Income Fund/ Trusts do not offer second mortgage or preferential equity. The PrivateInvest + Capital Trusts fills this void, providing qualified borrowers financial services across the capital stack.

Property is a capital-intensive industry and many large listed and unlisted development entities use different forms of project finance as it generally cheaper than common equity.

Target Returns

Case by Case.

PrivateInvest ESG/Impact Investments

MAKING A POSITIVE DIFFERENCE WITH ENVIRONMENTAL, SOCIAL AND GOVERNANCE INVESTMENTS

We do not greenwash. We act.

Given our strong history in the delivery of social and affordable housing and the company’s recognition for the provision of environmental, social, and governance measures, PrivateInvest seeks to embrace its ability to make a positive difference to local Australian communities.

Our PrivateInvest Capital Partnership Platform provides pre-qualified developers access to trusted recurrent capital in order to scale their company without diluting shareholder equity. These loans are typically club transactions where a number of investors continue to participate, including related parties to PrivateInvest. To register your interest, you must first have an investment in the PrivateInvest First Mortgage Income Fund as the loans are offered to those investors first.

Our corporate policy, among other things, includes having Non-Executive Directors and an Investment Review Committee. Pitcher Partners Auditors audit our Fund accounts annually; this is not a requirement as we are not a retail fund, however, provides further governance on our wholesale Funds.

PrivateInvest is constantly sourcing new opportunities in the impact investment sector.If you have something you think would suit, please contact Elizabeth Court (PrivateInvest ESG Officer).

PrivateInvest First Mortgage Income Fund

INVESTMENT STRUCTURE

The Fund is a pooled, open-ended, unregistered mortgage Unit Trust for wholesale and sophisticated investors, meaning it is always open for investment.

FIRST MORTGAGE INCOME FUND

The Fund is a “Pure Play” First Mortgage Fund with a high focus on capital preservation and with no subordinated debt to bolster investors returns that brings additional risk to the Fund.

STABLE REGULAR INCOME

Distributions are paid monthly or can be reinvested into the Fund.

INVESTMENT RETURNS

The Fund targets a return between 8.25% and 9.25% per annum, post fees and expenses.

FUND PERFORMANCE

The Fund has met its target returns since inception over five years ago with a strong focus on capital preservation and liquidity. Whilst historical performance is not necessarily an indication of future performance, the investment return is expected to increase with the rise in wholesale interest rates in Australia.

YIELD QUALITY AND STABILITY

First mortgage registered security aligned with a rigorous credit approval process and properly priced lending interest rates that support stable investment distributions.

LOAN SIZE AND TERM

These loans are generally in the $3 million to $25 million loan size range, with an average loan size of $6 million to $8 million which has the highest market demand and is considered the “unloved sector” as the amount is too small for bigger Funds. Average loan facility is generally 12 months which avoids the risk of loans with longer tenure trading through different property cycles.

LOAN ORIGINATION

PrivateInvest has an extensive database of finance brokers and industry professionals providing the PrivateInvest loan origination team a solid weekly national supply of new loans allowing the team to “handpick” the right loans.

LOW ON RISK CURVE

Average weighted sub 65% LVR on registered first mortgages, supported by Directors or personal guarantees, which further increases the security pool and hedges against default recovery and downside risk in declining markets.

PORTFOLIO REPAYMENT STRATEGY

Targeting commercial and industrial loans with less weighting on residential loans. Loans usually have a bridging strategy with refinance by mainstream ADI Banks. Another loan exit strategy is sale into Real Estate Investment Trusts.

LIQUIDITY

Investors can redeem their investment in part or in full whenever one of the Fund’s underlying loans matures or by new investor subscriptions. Loans are constantly maturing and new capital inflow provides excellent liquidity. There is no lock-up period and no entry and exit fees.

INVESTMENT AND FACILITY MANAGEMENT EXPERTISE

The PrivateInvest team has decades of technical management experience in funds management, property development, valuation, property asset management and banking gained from prior work in the public and private financial sectors.

MANAGEMENT FEES AND TRUSTEE FEES

Management fee of 1.95% per annum payable monthly in arrears, calculated on the total Funds Under Management. The Trustee is entitled to an annual fee of 0.25% of the drawn loan balance of the Fund, payable monthly in arrears, subject to a minimum payment of $6,000.

GOVERNANCE AND COMPLIANCE

For a wholesale fund, we adopt a retail fund manager mindset. As an example, the pooled fund is a wholesale fund that does not require to be audited, unlike retail funds, but we choose to have the fund audited as a further level of quality governance. Our Trustee Board has Non-Executive Directors overseeing our highly skilled management team with additional oversight from our Investment Review Committee. This is all backed up by institutional grade investor reporting.

MINIMUM INVESTMENT

Minimum application $100,000, and thereafter in $10,000 multiples. This can be altered at the Trustee discretion.

Your Choice on Selecting and Investing Into Individual Loans.

PrivateInvest Select Mortgage Trusts

To invest in individual loans rather than a pooled fund, you may invest in units in the Trust, alongside others, that are syndicated to the specific loan you select. In this way, you can effectively select the level of participation you have and which of the loans you invest in.

To get started, we require that you make the minimum investment in the PrivateInvest First Mortgage Income Fund. This places you on our priority list when sending out new PrivateInvest Select Mortgage Trust loans. If you are a large Family Office or Private Bank client looking to be a single investor, we would obtain a Mandate Agreement to source the loans.

The other areas we like to know, which helps us source the right loans for you, are as follows.

■ Preferred target return: Linked to the specific loans you invest in.

■ Asset Class:

(Commercial, Industrial, Office, Retail, Residential, Land – Residential, Land –Commercial / Industrial)

■ Size of Investment:

($1-$5m, $5-$10m, $10-25m, $25m+)

■ Capital Availability:

(Immediate, 1-3 months, 6 -12 months)

■ Location:

(NSW, QLD, VIC, WA, NT, SA, TAS)

■ Investment Term:

(Less then 1 year, 1-2 years, greater than 2 years)

■ Interest payment: (Paid monthly, prepaid or capitalised)

■ Construction exposure: (Yes / No)

■ Investor: (Company / Individual / Trust / Partnership)

■ Resident of Australia for tax purposes: (Yes / No)

■ Withholding tax applicable: (Yes / No)

PrivateInvest + Capital Trusts

5% -10% of Capital

No Security

PrivateInvest offers second mortgage or preferential equity. Equity

Preferred Equity

Second Mortgage Loan

First Mortgage Loan

All remaining Profits

5% -25% of Capital

No Security

Fixed Return/ Share of Profits

10%-20% of Capital

Second Mortgage over Property

Higher Fixed Return

50%-65% of Capital

First Mortgage over Property

Lower Fixed Return

PrivateInvest recently closed a large transaction on a trophy site located at Badgerys Creek next to the new airport in Sydney. The Borrower appointed PrivateInvest to arrange and structure the finance with funding arranged for $59 million for the first mortgage and $34,000 for the second mortgage.

Investment Fund Manager + Private Capital Partner in the Australian Commercial Property Sector

Investment Fund Manager + Private Capital Partner in the Australian Commercial Property Sector

Open For Investment Now

Open For Investment Now

Fully Subscribed

PRIVATEINVEST CAPITAL TRUSTS

Badgerys Creek, NSW

PRIVATEINVEST CAPITAL TRUSTS

Badgerys Creek, NSW

21% P.A. TARGET RETURN POST FEES AND EXPENSES

Industrial Trophy Site in Sydney

21% P.A. TARGET RETURN POST FEES AND EXPENSES

12-month term, second mortgage, sub 70% LVR ($138,750,000 Valuation)

This Offer is now 50% subscribed with less than $15,000,000 available for Investment

Industrial Trophy Site in Sydney

Closing date: 30 September 2022

12-month term, second mortgage, sub 70% LVR ($138,750,000 Valuation)

This Offer is now 50% subscribed with less than $15,000,000 available for Investment

Closing date: 30 September 2022

SITE REZONING

PRIME INDUSTRIAL LAND

EXIT STRATEGY

PRIME INDUSTRIAL LAND

The strong demand for well located industrial sites in the broader Sydney region continues. Demand has now turned to the new airport as it emerges as Sydney’s leading logistics hub.

The strong demand for well located industrial sites in the broader Sydney region continues. Demand has now turned to the new airport as it emerges as Sydney’s leading logistics hub.

The rezoning to ENT-Enterprise in September 2020 enables the land to be transformed into a sophisticated and sustainable development site suited for logistics, emerging enterprises, advanced manufacturing, and future technology.

SITE REZONING

The rezoning to ENT-Enterprise in September 2020 enables the land to be transformed into a sophisticated and sustainable development site suited for logistics, emerging enterprises, advanced manufacturing, and future technology.

WESTERN SYDNEY AEROTROPOLIS

Supported by Federal Government, the development delivers a curfew free airport that will become a hub for international, domestic, and freight services, providing almost 28,000 jobs by 2026.

WESTERN SYDNEY AEROTROPOLIS

Supported by Federal Government, the development delivers a curfew free airport that will become a hub for international, domestic, and freight services, providing almost 28,000 jobs by 2026.

Current negotiations with large scale REITs and an appetite from potential tenants may ensure the opportunity for refinance or sale on or before the end of the investment term. This demand will see continued escalation in site value as the Airport Precinct development crystalises.

EXIT STRATEGY

Current negotiations with large scale REITs and an appetite from potential tenants may ensure the opportunity for refinance or sale on or before the end of the investment term. This demand will see continued escalation in site value as the Airport Precinct development crystalises.

SITE ACTIVATION

The Site will be one of the first developable in the precinct given its prime location adjacent to the Airport and its connection to infrastructure services.

SITE ACTIVATION

The Site will be one of the first developable in the precinct given its prime location adjacent to the Airport and its connection to infrastructure services.

Making More Possible.

Your Investment, Your Allocation, Your Choice

■ Allocation between the “pure play” First Mortgage Income Fund and Second Mortgage Trusts allows investors the flexibility to increase returns and balance risk appetite.

■ PrivateInvest’s point of difference is that it does not have subordinated debt in the PrivateInvest First Mortgage Income Fund (Pooled Fund) to increase investment returns. Subordinated debt in the First Mortgage Income Fund increases the underlying risk to investors and ultimately, the investor loses control of the allocation between first and second mortgage debt.

■ PrivateInvest provides investors the options to invest in second mortgage products alongside the PrivateInvest First Mortgage Income Fund by allocation between the two investment products.

Your Investment, Your Allocation, Your Choice.

First Mortgage Assumed Target Returns: 8.50% p.a. post fees and expenses. Second Mortgage Assumed Target Returns: 18.00% p.a. post fees and expenses.

An investor placing an allocation of 90% in the First Mortgage Income Fund and 10% in the Second Mortgage Trust would receive an aggregate return of 9.45% per annum, post fees and expenses. It is not unusual to see first mortgage funds by PrivateInvest competitors have subordinated debt in their Fund on a 75% first / 25% second basis but still produce similar returns to the current PrivateInvest First Mortgage Income Fund which is a “pure play” first mortgage only.

A Strong Pipeline of New Loans with Increased Rates.

A Snapshot of Loans in the Portfolio

Badgery's Creek, NSW, Second Mortgage Site Acquisition, Commercial Development.

Asquith, New South Wales, First Mortgage Construction.

Burswood, Western Australia, Second Mortgage Construction, Mixed Use Apartment Complex.

Pymble NSW, First Mortgage Land Finance, Commercial Development for Private Hospital.

Orange NSW, First Mortgage Site Acquisition and Construction, Residential Subdivision with presales with full debt clearance.

Fuel Portfolio (4 sites, 3 sites refinanced with major bank on completion, 1 site to complete), Queensland, First Mortgage Construction.

Artists Impression of Built Form

Artists Impression of Built Form

Artist Impression of Built Form

Artists Impression of Built Form

Our Business Model

PrivateInvest Capital Partnership.

PrivateInvest is not a transactional based business. We like recurrent revenue and recurrent business. Our capital partnership platform for select borrowers establishes repeat business and we become their capital partner. The borrowers focus on project delivery, and we focus on funding and structuring their finance. Credit knowledge is enhanced, which further mitigates risk, and the future pipeline of loans is understood becoming recurrent business. This becomes scalable for all parties.

This equally applies to our capital origination. With over 50% of our investors investing with us more than once. We like sticky money!

Too often fund managers scale their business and continue to source larger institutional capital cheques – loans increase in size and investors that supported the business, initially fall away. PrivateInvest is striving to take our investors on the full journey. This is one of reasons we stay in the “unloved sector” of loans in the range of $3 million to $25 million. Our investment business model is producing above industry average risk-adjusted returns and combines the best of large and small-sized financial service providers to deliver a personalised service to both investors and borrowers.

Since inception, PrivateInvest spent the first two years developing the non-bank lending business model and grew it methodically. This involved building the right team which have an impressive experience and skillset.

Shareholders of the Investment and Facility Manager invested significantly, providing seed funding for the Fund and established the PrivateInvest Wholesale Funding Line of Credit. It is now ready to scale in a measured way based on a solid established platform.

We invite you to become part of the increasing market share in the non-bank lending sector. As we grow in scale, the strategic objective for PrivateInvest is to maintain our BIG ENOUGH. SMALL ENOUGH. market position. PrivateInvest does not have to be the “biggest in town”, just strive to be the best in class and sector. Our objective is to be an optimum business model. The definition of “optimum“ is: best, most likely to bring success or advantage. This benefits all stakeholders.

Building Partnerships to Grow Investments and Strategic Business for all Stakeholders.

PrivateInvest Value Promise

When PrivateInvest was created over a decade ago, our goal and promise was the same as it is today: to be a transparent, trustworthy, and forward-thinking values-based investment business with a strong culture that is always challenging the status quo, leveraging its best asset, its people, and producing above industry average risk adjusted returns.

Over the past decade, PrivateInvest, as a family office driven initiative, has assembled a group of highly qualified industry professionals that are aligned in culture and conviction to strive to be the best choice for investors and borrowers.

Our specialist investment finance team has decades of property experience in structuring first and second mortgage debt and preferential equity at leading investment firms and institutions.

We are exceptionally placed to identify, assess, and work with qualified borrowers seeking finance for a range of development, construction, and other property projects across Australia. Our borrowers have direct access to decision makers and support networks at all stages of their property projects – this sets us apart from larger banks and financial institutions.

Our Trustee Board of Directors, technical management team and Investment Review Committee are well placed to identify the right loan opportunities and assess the credit risk profiles – providing oversight of the risk management frameworks and execution strategies.

Through the experience of our team, its focus on transparency, oversight, collaboration, and governance, PrivateInvest has established an investment fund management company to deliver quality investment returns whilst being a property capital partner to the property sector.

In the News –PrivateInvest Insights

PrivateInvest is a non-bank lender, and our investment offerings are categorised as an alternative investment class, which is a supplemental investment strategy to the traditional long only stocks or bonds. PrivateInvest has taken a position to adopt educational and research activities to pursue and promote investment topics that have interest to our investors and provides quality information on financial markets and related topics.

Recently PrivateInvest held a panel evening event with Nathan Lynch. Nathan is described as a financial crime expert, international speaker and author of the “Lucky Laundry: How the Aussie economy got hooked on the world’s dirtiest cash”, published by Harper Collins.

Nathan specialises in the fields of Financial Crime Intelligence, Anti-Money Laundering, Counter-Terrorism Financing and Regulatory Risk. Nathan leads a team of experts who provide breaking news, deep analysis and practical guidance to more than 25,000 subscribers in the global financial services sector. He manages Thomson Reuters’ award-winning Regulatory Intelligence team across the Asia-Pacific region, tracking developments in financial services law, AML/CTF and risk management.

Nathan has trained police, government officials and bankers across Asia and the Middle East on the techniques the world’s criminals use to conceal and clean their dirty money. He is certified by the US Department

of Justice’s elite CCIPS Cybercrime Laboratory as a “Digital Forensic Incident Response Specialist”. He is a program expert with the Asian Development Bank and the US-based Financial Services Volunteer Corps, which support developing countries in their fight against serious and organised financial crime.

The evening was a fascinating insight into investigative journalism as Nathan peeled back the layers of complex financial crime schemes and made them accessible to a ‘layman’ audience. He took the audience through ingenious techniques the world’s criminals use to amass, conceal and clean their illicit wealth. He covered the most notorious international wash-houses, where proceeds of crime weave their way to the sunny shores of Australia.

Nathan was also featured on Australia’s ABC 4 Corners programme on the Perth Mint on gold doping and money laundering.

The full interview will be released midApril on the PrivateInvest Insights YouTube channel. Not to be missed.

THE LUCKY LAUNDRY

A GUIDED TOUR THROUGH THE HIDDEN WORLD OF DARK FINANCE THURSDAY 16TH MARCH 2023

The PrivateInvest Group Key Persons

Mark Roberts

GROUP EXECUTIVE CHAIRMAN, FOUNDING MANAGING DIRECTOR

Mark brings over 30 years’ property experience to PrivateInvest and its clients in both the public and private sectors.

His real estate experience includes corporate and property finance, funds management, asset management, investment management, and large-scale commercial property development.

Mark founded PrivateInvest over a decade ago, taking a measured approach to its evolution as it grew. Four years ago, Mark identified the opportunity to move into the non-bank lending sector, one of Australia’s fastest growing asset sectors which PrivateInvest has now become a genuine alternative finance solution to underserviced lenders in the commercial property market. Since that time, PrivateInvest has grown providing a range of tailored financial solutions to qualified borrowers in the real estate sector and supporting a range of significant projects and developments across Australia.

Mark has directed and executed a number of significant transactions in the finance, property and securities industries including listing an ASX entity as a major shareholder and as Managing Director. This entity became Australia’s largest in its sector, managing 5,600 rental retirement units and providing asset, facilities, tenancy, and funds management services to institutional, wholesale and retail owners.

The Roberts family private investment entity has also undertaken direct developments in the industrial, commercial, retail, hospitality and healthcare sectors.

Mark is based in Perth, Western Australia.

Leon Boyatzis DIRECTOR, HEAD OF FUNDS MANAGEMENT, TRUSTEE BOARD MEMBER

Leon has over 25 years’ experience in property funds management.

Leon’s background combines accounting, finance, funds management and property valuation. He has held senior property industry funds management roles for listed, unlisted, retail and wholesale funds ranging from private

family offices to large multinational organisations, including Multiplex and Brookfield.

With highly valuable expertise in investment, property valuation, and finance, Leon has built a reputation for driving fund performance and exceeding benchmark investor return hurdles.

This has been achieved through, for example, the development of detailed feasibility and investment models to support valuation analysis, accounting analysis including property cashflow, and fund models to drive strategic decision making and internal valuations.

Leon has been the responsible manager for a number of responsible entities holding Australian Financial Services Licences with investment in property developments on behalf of retail and wholesale clients.

Leon is a Chartered Accountant, and a Certified Practicing Valuer with the Australian Property Institute. He holds a Bachelor of Business (majoring in Accounting and Business Law).

Leon is based in Perth, Western Australia.

The PrivateInvest Group Key Persons

Naomi Roberts

Naomi has over 20 years’ experience in the property and funds management industries, with significant expertise in compliance, corporate governance and legal functions.

Her real estate experience spans across working in the family private business which involved direct development of commercial, industrial, retail and residential projects.

Naomi was previously involved in an ASX-listed national affordable rental retirement management company which became Australia’s largest in its sector, providing asset, facilities, tenancy and funds management services to institutional, wholesale and retail owners.

While studying towards a Bachelor of Laws, Naomi worked in a small legal practice in Queensland which provided excellent experience across many facets of legal matters including property, financing, conveyancing, wills and estates. She relocated to Western Australia and worked in a litigation firm as an Executive Paralegal while completing her law degree.

Naomi is the Responsible Manager on the PrivateInvest Australian Financial Services Licence.

Naomi has been admitted to the Supreme Court of Western Australia (2022) and also holds a Bachelor of Business (major in Marketing).

Naomi is based in Perth, Western Australia.

FOUNDING DIRECTOR – LEGAL - INVESTOR RELATIONS, TRUSTEE BOARD MEMBER

Greg Peel

NON- EXECUTIVE DIRECTOR – TRUSTEE BOARD MEMBER AND CHAIR INVESTMENT REVIEW COMMITTEE

Greg has over 35 years’ experience in the banking and finance industry including corporate finance, credit and risk management, and business banking. He is highly experienced in the areas of enterprise development, funding and business modelling and partnership identification and development particularly in the area of social finance and impact investment.

He established Bendigo and Adelaide Bank’s Business and Asset Finance divisions and the Strategic Market division. Greg also co-founded and was the Chief Executive Officer and Managing Director of Community Sector Banking, a financial institution focused on notfor-profit, impact investing and social infrastructure financing.

Greg was the Director of Business Development with the New South Wales Aboriginal Land Council where he was responsible for the development of a corporatisation strategy which included enterprise and housing policy.

He has held numerous advisory roles and directorships including Australia Social Investment Trust (Executive Director), Alternative Finance Custodians (Director and Chair of Trustee), Community Sector Enterprises and Community Sector Banking (CEO and MD), Bendigo Asset Management (Chair), Social Enterprise Finance Australia (Director), Eco Trust Australia (Director), Community Development Australia (Director and Chair) and LendForGood (Advisor).

Greg has also held positions as Senior Credit Analyst, and Corporate Relationship Manager at Banque Nationale de Paris, Standard Chartered Bank and State Bank of NSW, London.

Greg holds a Bachelor of Economics.

Greg is based in Nelson Bay, New South Wales.

The PrivateInvest Group Key Persons

Sarah de Rozario FINANCE MANAGER

Sarah is a Certified Practicing Accountant and finance executive with over 20 years’ experience in the areas of business and finance, strategy, risk and compliance, process engineering and governance.

Sarah was formerly the CFO for ACE Interactive (a leading developer and supplier of turnkey IVT Systems – software and hardware), with responsibility for the planning, implementation and management of the organisation’s finance functions including planning, budgeting and forecasting, and reporting. She was also the CFO for Hockey WA and a member of the Risk and Governance Committee and was responsible for strategic planning and key initiatives with the management team, together with the assessment of organisational performance.

Prior to this, Sarah was the Global Development – Compliance and Reporting Manager for the International Cricket Council (ICC), where she was responsible for planning, managing and overseeing 93 Member countries and 5 Regional global offices, including the compliance and financial reporting for the ICC’s Developing Cricket World Funding Policy, a US$300 million program.

Previous roles included Group Reporting and Consolidation Controller at Balfour Beatty, a UK-based engineering and construction services company (where Sarah was accounting for revenues of £7.49 billion and a forward order book of £11.50 billion), Finance and Analysis Accountant at Shell (UK), and Group Finance Accountant at Mowlem, a UK-based construction and civil engineering services company and European Finance Manager at Holmes Place (a luxury brand in health, leisure and wellness industry with a turnover of £70 million).

Sarah holds a Bachelor of Business, Major in Accounting and Business Law.

Sarah is based in Perth, Western Australia.

treasury experience.

She has experience as an economist within the banking and finance industry. This background combines financial risk management, debt advisory, treasury policy together with client relationship management, corporate governance, systems, and training.

Within the financial services sector, her roles have included:

■ Treasury Consultant with ANZ Bank (where she provided economic advice and analysis, financial modelling and risk management),

■ Assistant Treasurer with Colly Farms Cotton (treasury and risk management functions for Australia’s largest marketer and producer of cotton),

■ Corporate Treasury Advisor with Societe Generale (treasury risk management services), and

■ Consultant with Barrington Treasury Services (risk consulting and governance including treasury policy development, systems, and transactional banking review).

Elizabeth is the principal of Court Consultants and has recently retired her position as a Membership Director of the Private Wealth Network, an independent membership organisation of over 200 Family Offices.

In addition to her role at PrivateInvest, Elizabeth holds a Non-Executive Director position with Grey Innovation Group, a technology commercialisation company, and a Vice Chair Board position with Court Grammar School. Elizabeth is also a Member of the Board of Trustees of the Sir Frank Ledger Charitable Trust.

Elizabeth holds a Bachelor of Economics and is Member of the Australian Institute of Company Directors.

Elizabeth is based in Perth, Western Australia.

The PrivateInvest Group Key Persons

Rohan Barraclough INVESTMENT AND LENDING

Rohan has a decade of experience in investment banking and real estate lending and finance. Rohan has developed a strong network of borrowers, brokers, bankers, non-bank lenders and investors across Australia, having been based in Sydney prior to Perth. Rohan is now based in PrivateInvest’s Perth office and has responsibilities for origination, execution, and management of our real estate lending portfolio across Australia.

Initially working in investment banking at the Bank of America Merrill Lynch in Sydney, Rohan possesses significant structuring and financial analysis experience, having advised general industrials companies on M&A, capital raising and joint venture transactions.

Rohan moved into real estate investment in 2018 when he joined Marshall Investments as an Investment Manager, managing a portfolio of real estate debt and preferred equity investments across a diverse range of land, development and investment facilities. Rohan was responsible at Marshall Investments for sourcing investment opportunities, preparing credit and investor papers, conducting due diligence, managing funded facilities, and investor communications. Rohan funded facilities across a range of sectors including residential, commercial, hospitality, childcare and retail across Australia.

Rohan holds a Bachelor of Commerce (Finance and Economics) and Juris Doctor graduate law degree at The University of Melbourne.

Rohan is based in Perth, Western Australia.

Andy Parsons

INVESTMENT AND CREDIT ANALYST

Andy joined PrivateInvest in 2022, relocating from his home in Brisbane to work with PrivateInvest in Sydney.

He was previously a Lending Analyst in the Loan Origination Services team at Auswide Bank, where he was responsible for providing client services for third-party brokers. Andy supported the endto-end lending process for loan applications, preparing credit papers for credit assessment by the credit team, completing due diligence activities, and verifying supporting financial information provided as part of home loan applications.

Andy was responsible for the management of lending applications (from origination to settlement), preparing and assessing credit submissions, resolving application and credit structuring issues for brokers, lenders and relationship managers, and completing employment verifications, credit checks and assessing valuations. He was also responsible for applying bank credit policies to satisfy the bank’s responsible lending criteria.

Andy worked as an intern with Exceed Capital while studying his degree which gained his experience in fund management and finance administration.

His responsibility with PrivateInvest is working with the loan origination team on drafting credit papers, the capital origination team on the drafting of Information Memorandums and the finance feasibility analysis with the funds management team.

Andy holds a Bachelor of Business, majoring in Finance and Economics.

Andy is based in Sydney, New South Wales.

The PrivateInvest Group Key Persons

Tom Ellen

INVESTMENT REVIEW COMMITTEE

Tom has extensive experience in the banking and finance sector, with expertise in the areas of credit and risk analysis, compliance and governance, process and policy reviews, change management, and identifying and implementing business performance opportunities to improve operating efficiencies and ensure compliance adherence.

Tom had over 20 years’ experience with National Australia Bank as Regional Credit Executive, Senior Credit & Risk Manager, Credit & Risk Manager, and Relationship Manager Business Banking.

He has developed comprehensive risk management templates for National Australia Banks’ Operational Risk and Compliance Team, numerous business process improvement initiatives to improve both business efficiencies and customer experiences, and change management platforms for the implementation and roll out of process improvements.

Tom has managed risk dashboard and quality assurance controls to both maintain and improve banking industry compliance functions and their implementation, leading a team of credit and risk managers to deliver leading, independently assessed Asset Quality Assurance results.

Tom holds a Bachelor of Business and Securities Institute of Australia Certificate in Financial Markets.

Tom is based in Perth, Western Australia.

Tim Jones

INVESTMENT REVIEW COMMITTEE

Tim has over 27 years’ experience in property funds management, property operations, property investment and development markets throughout Australia. He is currently the principal of Wholesale Securities, a fund manager for the commercial real estate sector.

Tim was a senior executive for 15 years with the Sarich Family Office, Western Australia’s largest private property investor at the time. Tim was responsible for building the Sarich Family Office into a major property portfolio which included master planned estates and the acquisition of commercial buildings.

Prior to this, Tim’s roles included:

■ Director / State Property Manager with Macquarie Bank’s Development Funds Management team, where he was responsible for establishing various projects in direct property investment and development, with a portfolio valued in excess of $800 million.

■ Head of Funds Management with Goldmate Property Group in Sydney ,with the responsibility of establishing their property funds management business.

Tim holds a Bachelor of Business (Valuation and Economy), is an Associate with the Australian Property Institute, and is a Fellow of the Financial Services Institute of Australasia (FINSIA).

Tim is based in Perth, Western Australia.

Important Notices

This Capability Statement has been prepared and issued by PrivateInvest Capital Securities Limited ACN 611 892 249 (“the Trustee”) which is the holder of Australian Financial Services Licence No. 491287.

Professional Investor Capability Statement

Investment in the PrivateInvest Fund, or Trusts, is only open to wholesale client or professional investors (as defined in the Corporations Act 2001 (Cth) (“Corporations Act”).

No Responsibility for Contents of Document

This Capability Statement has been prepared to the best of the knowledge of the Trustee and its terms are believed to be accurate as at the date of this Capability Statement.

To the maximum extent permitted by law, neither the Trustee, nor any of their associates, related parties, directors, officers, employees, advisors (including financial, accounting and legal advisors) or representatives make any recommendation in relation to the Capability Statement, or make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information contained in this Capability Statement.

This Capability Statement does not purport to contain all the information that a prospective investor may require in

evaluating a potential investment in the PrivateInvest Fund, or Trusts.

The purpose of this Capability Statement is to provide information on the PrivateInvest Fund, and Trusts, and potential investors should request from the Trustee the Information Memorandum for the PrivateInvest First Mortgage Income Fund, or Second Mortgage Trusts in deciding whether they wish to invest.

Forward Looking Statements

This Capability Statement may contain certain forecasts and forward-looking statements. These have been prepared by the Trustee and represent the Trustee’s best estimates based on present circumstances. The forecasts and forwardlooking statements involve subjective judgements and assumptions as to future events, which may or may not be correct. The Trustee cannot, and does not, guarantee the achievement of these forecasts and forward-looking statements.

How Do I Learn More?

It’s more than a name. It’s a promise. It’s where people make the difference.

PrivateInvest is a non-bank lender, and our investment offerings are categorised as an alternative investment class, which is a supplemental investment strategy to the traditional long only positions in stocks or bonds.

The business has taken a position to adopt educational and research promotional activities and we will continue to pursue and promote topics that have interest to our investors and provide quality information on financial markets and related topics.

The PrivateInvest website includes videos on our Fund and Trusts, downloadable Fact Sheets on different aspects of the Funds and Trusts, information for borrowers, PrivateInvest Insights events and Webinars, as well as PrivateInvest Insights white papers on the sector.

In order to be notified about events or relevant industry information that may be of interest, we encourage you to join our PrivateInvest LinkedIn page. (QR Code below).

You can also contact us at any time on 1300 2 INVEST (1300 2 468 378) or email us at corporate@privateinvest.com.au and we will direct your enquiry to the right team member.

We would welcome your business.

PrivateInvest Pty Limited

ACN 626 703 026

Authorised Representative Number 0012 84225

Perth Ground Floor, 561 Stirling Highway

Cottesloe, WA 6011

Sydney 2 Short Street, Double Bay, NSW 202 8

Postal PO Box 477, Cottesloe, WA 6911

Corporate/Investment

1300 2 INVEST ( 1300 2 4 68 378)

Seeking Finance

1300 4 FUNDING ( 1300 4 386 34 6)

Email corporate@privateinvest.com.au

Web www.privateinvest.com.au

Trustee

PrivateInvest Capital Securities Limited

ACN 6 11 892 249

Australian Financial Services

Licence No 4912 87

Perth Ground Floor, 561 Stirling Highway Cottesloe, WA 6011

Sydney 2 Short Street, Double Bay, NSW 202 8

Postal PO Box 477, Cottesloe, WA 6911

Phone 1300 2 INVEST ( 1300 2 4 68 378)

Email corporate@privateinvest.com.au

Investment Manager

PrivateInvest First Management Pty Limited

ACN 625 4 68 215

Perth Ground Floor, 561 Stirling Highway

Cottesloe, WA 6011

Sydney 2 Short Street, Double Bay, NSW 202 8

Postal PO Box 477, Cottesloe, WA 6911

Phone 1300 2 INVEST ( 1300 2 468 378)

1300 4 FUNDING ( 1300 4 386 34 6)

Accounting and Taxation

Accountants

Pitcher Partners

Office Level 11/ 12-14 The Esplanade, Perth WA 6000

Phone (08) 9322 2022

Registry Services

Automic Group Pty Ltd

Office Level 5, 126 Phillip Street

Sydney, NSW 2000

Phone 1300 2 88 66 4

Email hello@automicgroup.com.au