What Balmain does

Balmain is an Australian privately-held, non-bank financial services group founded in 1979 by Michael Holm, headquartered in Sydney, and operating through 9 offices across Australia's east coast (NSW, ACT, Victoria, Queensland). It is Australia's largest non-bank commercial property loan manager, with a loan portfolio exceeding $5.5bn, $4bn of loans written annually, and more than $30bn of commercial mortgage loans originated since inception across ~15,000 transactions. Over 80% of annual originations are sourced from existing client relationships, evidencing a relationship-driven direct lending model covering loan sizes from $500,000 to over $100m across land, construction, commercial property, debtors, equipment and headstock.

The group operates a vertically integrated platform combining origination, credit underwriting, fund management and special servicing. On the investor side it offers a multi-vehicle product suite — Balmain Opportunity Trust (BOT), Balmain Discrete Mortgage Income Trusts (Balmain Private), 30BIT, B60, BIP — with target returns of 6-12% pa and a proprietary online platform (Investor Control Console + mobile app) enabling individual loan selection via discrete sub-trust structures. Revenue is generated through management fees (0.80-1.65% pa), origination and establishment fees, loan servicing fees, special-servicing fees on $4.5bn of acquired debt ($9bn face value) with $8bn+ in cumulative collections, and equity participation. Major third-party servicing clients include Morgan Stanley, Blackstone, Goldman Sachs, Deutsche Bank, Bain Capital and Macquarie Bank.

Balmain also holds significant minority stakes in Metro Finance (vehicle/equipment finance), MitchCap (recreational asset floorplanning) and WaveMoney (residential mortgages via brokers), and wholly owns d'Albora Marinas (10 east-coast marinas acquired 2017). CEO Andrew Griffin is a major shareholder alongside founder Michael Holm (Executive Chairman); ownership remains concentrated among founders and senior management. Recent strategic activity includes the September 2025 divestiture of AMAL Group to IQ-EQ, November 2025 CFO appointment of Julie Schelfhaut, February 2026 Sydney HQ relocation, and an April 2026 minority investment in Caruso, an AI-native private markets fund administration platform.

Name

Balmain

Legal name

Balmain NB Corporation Limited

Website

https://balmain.com.au

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Commercial Mortgage Lending

NAICS

Mortgage and Nonmortgage Loan Brokers (522310), Portfolio Management and Investment Advice (523940)

SIC

Mortgage Bankers & Loan Correspondents (6162), Investment Advice (6282)

akta.pro primary industry

Balance-Sheet / Portfolio CRE Lending (FSALADAG)

akta.pro secondary industries

Real Assets — Real Estate Debt (Whole Loans, Mezzanine, CMBS/CLO) (FSAHAIAB), Warehouse Lending / Mortgage Warehouse Facilities (FSALACAI)

Keywords

• Commercial mortgage lending
• Private credit funds
• Asset backed investments
• Investment trust management
• Special servicing services

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Interest Income from Commercial Lending: Balmain generates interest income by lending across all asset types including land, construction, cars, offices, debtors, equipment and headstock. The company writes $4Bn of loans each year with a loan portfolio exceeding $5.5Bn.
2. Management Fees: Balmain charges management fees on investment products including BDMIT with base management fee of 0.80% pa plus recoverable expenses of 0.05% pa and deferred management fee of 0.80% pa. Performance fees apply on surplus recovery.
3. Origination and Establishment Fees: Fees earned from the origination and establishment of loans, paid by the borrower. Loan minimums start at $250,000.
4. Loan Servicing Fees: Ongoing servicing fees earned from managing loans throughout their term.
5. Special Servicing Revenue: Revenue from special servicing activities including collections on purchased NPLs. Balmain has been appointed Special Servicer on $4.50bn of acquired debt ($9.00bn of face value) and total collections exceed $8.00bn.
6. Distribution to Investors: 30BIT is designed to generate returns of 2.50% over the Cash Rate paid monthly. BOT makes monthly distributions. Balmain Private pays cash distributions monthly with terms generally between 6-18 months.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels7 records

Core offering

Balmain is a broad-based Australian financial services company that originates and funds commercial loans ($500,000 to over $100,000,000) across asset classes including land, construction, cars, offices, debtors and equipment, while managing multiple investment trust products (BOT, Balmain Private, 30BIT, B60, BIP) for retail and wholesale investors and providing cradle-to-grave portfolio services including special servicing to third-party lenders.

Product overview

Balmain is a broad-based financial services organization offering commercial mortgage finance and investment funds management. The product portfolio consists of multiple investment trusts: the Balmain Opportunity Trust (BOT) for wholesale investors, Balmain Private (Discrete Mortgage Income Trusts) enabling retail investors to select individual first mortgages, the 30-Day Notice Income Trust (30BIT) and 60-Day Notice Income Trust (B60) for liquidity-focused investors, and Balmain Investment Partners Trusts (BIP) for alternative opportunities. Core lending services include Corporate and Asset Based Lending ranging from $500,000 to over $100 million. The group also holds significant interests in Metro (vehicle/equipment loans), MitchCap (specialty equipment financing), and WaveMoney (residential mortgages). Portfolio services encompass origination, credit and collections, special servicing, and fund administration across all loan classes.

Differentiator

Problem solved

Functional benefit

Brands

• Metro: Vehicle and equipment loans provider, offering consumer vehicle loans and novated leases. Wholly Australian owned and independent, backed by shareholder equity and Australian institutional funding.
• MitchCap
• WaveMoney

Products and services

• Corporate and Asset Based Lending Commercial debt financing providing loan sizes from $500,000 to over $100,000,000 across all asset types including land, construction, cars, offices, debtors, equipment and headstock. Targeted at commercial property borrowers and self-employed investors seeking flexible funding outside traditional banks.
• Balmain Discrete Mortgage Income Trusts (Balmain Private) An online investment platform enabling retail and sophisticated investors to subscribe to individual first mortgage secured commercial property loans, with minimum $50,000 initial investment and $10,000 per individual loan. Target returns 6% to 12% pa with monthly cash distributions and terms of 6-18 months.
• Balmain Opportunity Trust (BOT) A wholesale scheme for sophisticated investors that invests in debt-related investments including mortgages, special opportunities, and lending programmes, making monthly distributions. ~$2.8Bn funds under management.
• Balmain 30-Day Notice Monthly Income Trust (30BIT) A registered retail managed investment scheme designed to generate returns 2.50% over the Cash Rate, paid monthly, with withdrawals available upon 30 days' notice. Maintains 20% liquidity with stand-by liquidity facility enabling 50% redemption of units on issue at any time.
• Balmain 60-Day Notice Income Trust (B60) A pooled fund investing in debt-related assets similar to BOT with enhanced liquidity enabling more regular investor withdrawals with 60-days' notice.
• Balmain Investment Partners Trusts (BIP) Wholesale schemes for sophisticated investors offering opportunities that don't fit the parameters of BOT, Balmain Private, or B60, including non-performing loans, venture capital, corporate expansion loans, and marina acquisitions.
• Portfolio Services Cradle-to-grave services for third-party lenders including origination, credit and collections, special servicing, start-up capital, fund administration, trustee services, and fund accounting. Balmain has been appointed Special Servicer on $4.50bn of acquired debt with total collections exceeding $8.00bn.
• Metro Finance (subsidiary) Vehicle and equipment loan financing provider offering consumer vehicle loans and novated leases, backed by shareholder equity and Australian institutional funding.
• MitchCap (subsidiary) Equipment financing platform providing floorplan funding through MitchMarket, connecting manufacturers, distributors, and dealers in boats, bikes, motorbikes, recreational vehicles, and caravans.
• WaveMoney (subsidiary)

Quantifiable outcome

• Target returns of 6% to 12% pa on commercial mortgage investments
• +4 more outcomes

Named customers13 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Sky Metals LimitedminorOthersBalmain Minerals Pty Ltd, a subsidiary of Sky Metals Limited, entered into a binding option agreement with Locksley Resources for the Iron Duke Copper Gold Project. Balmain Minerals is divesting its interest as part of this transaction.
• Metro FinancecoreOthersBalmain is a significant shareholder in Metro, which has financed over $6Bn in loans and helped over 75,000 customers since 2011. Metro provides vehicle and equipment loans, consumer vehicle loans and novated leases, backed by shareholder equity and Australian institutional funding.
• MitchCapcoreOthersBalmain is a significant shareholder in MitchCap, which has grown over 300% in the last two years. MitchCap provides funding and technology connecting the fragmented channel for boats, bikes, motorbikes, recreational vehicles and caravans through floorplan funding and MitchMarket platform.
• WaveMoneycoreOthersBalmain is a significant shareholder in WaveMoney, a leading Australian non-bank lender delivering residential mortgage solutions via brokers to borrowers whose needs are not met by traditional banks.
• d'Albora Marinas GroupcoreOthersBalmain acquired d'Albora Marinas Group in 2017, comprising 10 premium marina locations on Australia's East Coast. The business is led by Murry Offord and represents Balmain's diversification into marina operations.
• National Australia Bank (NAB)coreOthersInvestor cash units in Balmain Private are deposited with National Australia Bank, which currently earns interest at 2.75% pa. NAB serves as the cash management account provider for the investment platform.

Scale indicators17 records

Recent moves7 records

Expansion highlights5 records

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/balmain.au
• LinkedInlinkedin.com/company/balmain-au
• Instagraminstagram.com/balmain.au

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Balmain