AI is already inside every credit fund.
Our first report is out. More than 30 Australian credit funds, from boutiques to managers over A$50 billion. Every one of them is already using AI. Not one was happy with where it has got them, and the reasons repeat.
Hi folks,
Our first report is out this week. The State of AI in Credit, built on conversations with more than 30 Australian credit funds. The short version is that everyone is already using it, and almost nobody has changed how the work gets done.
The one thing.
AI is already inside every credit fund we spoke to. It is not yet changing how most of them operate
- MDs, analysts and CIOs, at funds from about A$100 million to over A$50 billion in FUM. The tools are already in the hands of their investment and operations teams. (The State of AI in Credit)
- Not a single fund was happy with its progress. One fund in the set is taking deliberate steps towards organisation-wide capability. One.
- The same four things block it every time. Nobody owns the change. The work and the data sit across systems that do not talk. IT and security stall deployment. And individual competence never becomes an organisational capability.
- Nobody is hiring for it either. Across 86 live credit roles and 87 funds management roles on Seek on 17 August, no Australian private credit manager advertised a dedicated AI role.
What this means for a fund:
- Buying licences is not adoption. You can give every person access to a frontier model and still work exactly as you did the week before.
- Ownership is the first fix, not the data. One accountable person, one workflow with a clear start and end, and the authority and time to change how that work gets done.
- Do not run the clean-everything-first project. Map where the data sits, mark which version is authoritative, and start. Messy data is a smaller blocker than funds think it is.
In the mix.
- Nvidia signed up six of the largest managers to finance AI compute
- Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR, targeting more than US$500 billion of third-party capital for data centres and AI infrastructure.
- Goldman's David Solomon called it "a market for credit backed by NVIDIA compute".
- Why it matters: compute is becoming a credit asset class. Residual value on the hardware is now a credit question, not a technology one.
Levercon builds the AI operating system for credit funds: we connect your data, deploy agents across origination and monitoring, and run the repetitive work end to end.
Book a strategy call.
See where AI fits in your fund.
Walk through Levercon's custom AI operating system to see how it can benefit your fund.