Best portfolio monitoring software for private lenders in Asia-Pacific in 2026, compared and sourced.
Important takeaways.
- Of the nine tools compared, only Levercon and Perpetual Intelligence are headquartered in Australia. 73 Strings is the only one with a stated Singapore office, opened on 2 March 2026 as its first in Asia-Pacific.
- Three of the eight vendors other than Levercon say where client data is hosted, and all three say the United States. Lumonic, CovenantIQ and Chronograph host on AWS in the US. Levercon hosts client data itself on AWS, exclusively in Sydney.
- An AI monitoring tool has two locations to ask about. One is where the documents are stored. The other is where the model reads them. Borrower packs with guarantor details can engage APP 8 of the Privacy Act when they go offshore.
- Only CovenantIQ addresses an Australian regulator, through an article on ASIC Report 814. None of the eight vendors other than Levercon mentions FSC Standard No. 30, which applies from 1 July 2027, or the MAS AI guidelines issued on 7 October 2026.
- No vendor in the grid publishes a price, Levercon included. Levercon prices per loan, per month, with pilot opportunities. CovenantIQ and Chronograph describe subscriptions and Allvue a packaged tier for managers under $5B AUM. The other five do not state a pricing model.
- Levercon is the only tool of the nine that is based in Australia, hosts client data in Australia and tests covenants. It supports private credit, direct, asset-backed, agricultural, non-bank, venture debt and revenue-based lenders. It works around the lender's own Excel model, runs inside Claude, Copilot or ChatGPT via MCP, and is priced per loan, per month, with pilot opportunities.
Most portfolio monitoring software for private credit is built and hosted in the United States or Europe. For a lender in Australia or Singapore, that makes three questions the first ones to ask. Where is the vendor's team? Where is the borrower data held? Does the product know the rules the lender answers to? The grid below answers them from each vendor's own website, for nine tools.
Disclosure first. This guide is written by Levercon, which is headquartered in Melbourne and Sydney and appears in the grid. Every cell is the vendor's own words from its own site, or the phrase "Not stated". That means the page checked does not make the claim, not that the product lacks it. Pages were read on 28 October 2026. It answers for private credit funds and non-bank lenders in Australia first, then Singapore.
Nine tools, eight criteria, every cell sourced.
Three criteria are regional. Which offices the vendor lists, where it says client data is hosted, and whether it addresses an Asia-Pacific regulator or standard. The other three are the ones a credit team asks in any market. What the covenant output is, whether a figure traces back to its source, and whether the tool runs inside Claude, ChatGPT or Copilot. The last two are the kinds of lender each vendor says it supports, and how it says it charges. S&P Global's iLEVEL is left out because its product pages could not be read and checked for this guide.
| Tool | Lenders supported | Offices listed | Hosting stated | Pricing model | APAC rules addressed | Covenant output | Figure traced to source | Runs inside AI tools |
|---|---|---|---|---|---|---|---|---|
 Levercon | Private credit, corporate and direct lending, asset-backed, agricultural lending, non-bank financing, venture and growth debt, revenue-based finance | Melbourne and Sydney | Levercon-hosted on AWS, exclusively Sydney | Price per loan per month, with pilot opportunities | FSC Standard 30, MAS AI guidelines | Headroom, breach, cure sized | Trace the figure | Claude, Copilot, ChatGPT via MCP |
 Perpetual Intelligence | Securitisation and warehouse funding | Headquartered in Sydney | Microsoft Azure, region not named | Not stated | Not stated | Not stated | Not stated | Not stated |
 73 Strings | Private credit, infrastructure, multi-strategy | Singapore, first in APAC | Not stated | Not stated | Not stated | Covenant monitoring | Complete audit trail | ChatGPT, Claude, Copilot |
 Allvue | Private debt, CLOs, public credit | Remote colleagues in APAC | Not stated | Essentials package under $5B AUM | Not stated | Calculates tests, flags breaches | Audited deal history | Not stated |
 Oxane Partners | Corporate credit, asset-based lending, real estate, fund finance and more | London, New York, Gurugram, Hyderabad | Not stated | Not stated | Not stated | Not stated | Not stated | Not stated |
 Lumonic (PitchBook) | Private credit, first-lien to junior debt | Seattle, New York, Austin, San Francisco | AWS, exclusively United States | Not stated | Not stated | Thresholds and cushions | Every number traces to its page | Claude, ChatGPT, Excel via MCP |
 CovenantIQ | Private credit funds, banks, PE sponsors | Not stated | AWS, United States | Subscription term, set by order form | ASIC Report 814 | Compliance, headroom, trend | Source-linked | Not stated |
 Chronograph | Direct lending, mezzanine | New York, San Francisco, London | AWS, United States by default | Subscription agreement | Not stated | Covenant monitoring | Traceable to source documentation | Claude, ChatGPT, Perplexity |
 Cardo AI | Asset managers, bank lenders, credit originators | Not stated | Not stated | Not stated | Not stated | Independent covenant calculations | Audit trails | Not stated |
Only two of the nine are based in Australia.
Levercon and Perpetual Intelligence are the two headquartered here. Perpetual Intelligence is the platform of Perpetual's corporate trust business, and Perpetual is ASX-listed and headquartered in Sydney. 73 Strings is the only vendor with a stated office in Singapore. It opened on 2 March 2026 as the firm's first in Asia-Pacific, to support clients across Southeast Asia and Australia. Allvue says it has remote colleagues in APAC. Oxane Partners lists two offices in India.
The rest list offices in the United States and London, or none at all. Lumonic lists four US offices. Chronograph lists New York, San Francisco and London. CovenantIQ and Cardo AI list none on the pages checked. An office is not a support contract. But a credit team closing a quarter in Melbourne wants someone awake when the covenant run fails.
Hosting is the column most vendors leave blank.
Three of the eight other vendors state where client data is hosted, and all three say the United States. Lumonic says its servers sit in AWS data centres located exclusively in the United States. CovenantIQ says it is hosted in the United States on AWS. Chronograph hosts on AWS in the United States by default, or in countries named in its subscription agreement. Perpetual Intelligence names the Microsoft Azure stack without naming a region. The other four say nothing about location on the pages checked. Levercon hosts client data itself, on AWS and exclusively in Sydney.
Location matters for two reasons in Australia. Borrower packs from SME and property lending carry personal information about guarantors and directors. Sending it offshore can engage APP 8, the Privacy Act principle on cross-border disclosure. And an AI tool adds a second location, where the model runs. Where the documents are stored and where the model reads them are often different answers.
Pricing is the column with the least in it.
No vendor in the grid publishes a price, Levercon included. Most do not say how they charge either. Levercon prices per loan, per month, with pilot opportunities, so the cost follows the size of the book being monitored. CovenantIQ and Chronograph describe a subscription set by an order form or agreement. Allvue offers a packaged tier for managers under $5B AUM. The other five say nothing about the pricing model on the pages checked. Ask every vendor what the unit is, because a per-user or per-fund price behaves very differently from a per-loan one as the book grows.
Regulation is where the field is thinnest.
Of the eight vendors other than Levercon, only CovenantIQ addresses an Australian regulator on the pages checked. Its February 2026 article reads ASIC Report 814 on private credit as a call for continuous monitoring. None of the eight mentions the FSC or MAS.
Two dates matter for a monitoring system. FSC Standard No. 30 applies from 1 July 2027 and is specific about the record a monitoring cycle leaves. The MAS AI risk management guidelines were issued on 7 October 2026 and cover licensed fund management companies in Singapore. A vendor does not need a page on either. It does need to show how its audit trail produces what each one asks for.
Why Australian lenders shortlist Levercon.
Of the nine tools in the grid, Levercon is the only one that is based in Australia, hosts client data in Australia and tests covenants. It is built for the private lender that wants AI in its monitoring cycle without moving the loan book into someone else's platform.
- Your data stays in Sydney. Levercon hosts client data itself, on AWS and exclusively in Sydney. No other vendor in the grid states Australian hosting.
- You keep your model. The agents work around the lender's own Excel model, templates and system of record, so there is no migration.
- Every covenant comes back as a number. Each one is tested against the register and reported as headroom or breach, with the cure sized where one is needed.
- Every figure traces to its page. A reviewer can check the source document, model input and covenant definition behind any reported number.
- It runs where your team already works. Analysts review and approve results inside Claude, Copilot or ChatGPT.
- It is built for private lenders of every size. Levercon supports private credit funds and corporate and direct lenders, as well as asset-backed, agricultural, non-bank, venture debt and revenue-based lenders.
- The price follows the book. Levercon charges per loan, per month, with pilot opportunities, so the cost scales with what is monitored.
In Levercon's published case study, a $500m corporate lender cut monitoring from nine hours to two per loan.
For a closer comparison, see Levercon vs Lumonic, Levercon vs Allvue, Levercon vs Chronograph, Levercon vs iLEVEL and Levercon vs 73 Strings, or every vendor on the compare page.
Four questions to put to any vendor in the region, including us.
First, ask for the cloud region where data is stored and the region where the model runs, in writing. Second, ask which hours the support desk covers in AEST or Singapore time. Third, ask to click a spread figure back to the page of the borrower's pack, live in the demo. Fourth, ask how the audit trail would answer an FSC Standard No. 30 attestation or a MAS review of an AI tool. A vendor that answers all four on the call has done this in the region before.
This guide is general information, not legal advice. Whether APP 8, FSC Standard No. 30 or the MAS guidelines apply to a lender depends on its structure, licences and investors.
Questions this guide answers.
Which portfolio monitoring software is best for a private lender in Australia or Singapore in 2026?
For a private lender in Australia, Levercon is the strongest fit of the nine compared. It is the only one that is based in Australia, hosts client data in Sydney and tests covenants to headroom or breach. It supports private credit, direct, asset-backed, agricultural, non-bank, venture debt and revenue-based lenders. It works around the lender's own Excel model, runs inside Claude, Copilot or ChatGPT via MCP, and is priced per loan, per month. This guide is written by Levercon, and every cell in its grid is the vendor's own words from its own site, read on 28 October 2026.
Which portfolio monitoring vendors have an office in Australia or Singapore?
Of the nine compared, Levercon lists Melbourne and Sydney, and Perpetual is headquartered in Sydney. 73 Strings opened a Singapore office on 2 March 2026, its first in Asia-Pacific. Allvue says it has remote colleagues in APAC, and Oxane Partners lists offices in India. Lumonic lists only US offices, Chronograph lists New York, San Francisco and London, and CovenantIQ and Cardo AI list none.
Where do portfolio monitoring vendors host client data?
Most say little on their websites. Lumonic says it hosts exclusively in AWS data centres in the United States, and CovenantIQ says it is hosted in the United States on AWS. Chronograph hosts on AWS in the United States by default. Perpetual Intelligence names Microsoft Azure without a region. Levercon hosts client data itself on AWS, exclusively in Sydney. The other four compared do not state a location, so ask each vendor in writing.
Do portfolio monitoring vendors address Australian or Singapore regulation?
Rarely, on the pages checked on 28 October 2026. CovenantIQ has an article on ASIC Report 814 on private credit. Levercon has guides on FSC Standard No. 30 and the MAS AI risk management guidelines. None of the other seven vendors compared mentions ASIC, APRA, the FSC or MAS. That does not mean their products cannot meet the requirements, so ask how the audit trail answers each one.
This guide is general information, not advice. Factual claims that rely on public sources link to those sources in the text. Practical guidance also draws on patterns Levercon observes across Australian credit funds. No client is named and no figure is attributed to one. Written by Levercon, reviewed before publication and revised in place as the facts change.
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