Epsilon Direct Lending
Venture debtMelbourne · 10 people tracked
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Investment thesis
Epsilon Direct Lending targets high-quality, credit-worthy middle-market companies in Australia and New Zealand, providing tailored corporate financing for growth, acquisitions, leveraged buyouts, and refinancing situations. The firm aims to deliver institutional and wholesale investors attractive, predictable income with capital preservation, low volatility, and low correlation to traditional asset classes through access to privately negotiated debt instruments.
Source: firm website, verified Aug 6, 2026.
Team · 10 people
from the firm's website & public directoriesJoe Millward is a Founding Partner of Epsilon Direct Lending and sits on its Investment Committee, focusing on originating, executing and managing middle market corporate financings across Australia and New Zealand, including leveraged buyouts, acquisitions, recapitalisations and refinancings. He has 27 years of experience across direct lending, corporate and investment banking, and previously led a EUR3bn private credit funds management business within the asset management division of the Royal Bank of Scotland from 1999 to 2010. After moving to Australia in 2011, he served as COO of the Corporate & Investment Banking Division at Bank of America Merrill Lynch Australia and later as an Executive Manager in CBA's corporate bank. He is a qualified accountant and fellow member of the ACCA.
Mick Wright-Smith is a Founding Partner of Epsilon Direct Lending and sits on its Investment Committee, where he handles origination, execution and management of growth and event-driven middle market corporate financings across Australia and New Zealand, including leveraged buyouts, acquisition financing, growth capex, recapitalisations and refinancings. He has 27 years of capital markets experience in corporate lending across Australia, the UK and Europe, most recently serving as Executive Director and National Head of Middle Market Leveraged Finance at CBA, with prior roles at CIT Leveraged Finance, Barclays Leveraged Finance and Balmain NB. He holds an MBA from the University of Edinburgh, a Graduate Diploma in Applied Finance & Investment, and an honours BA from the University of Melbourne.
Paul Nagy is a Founding Partner of Epsilon Direct Lending and a member of its Investment Committee, focusing on originating, executing and managing growth and event-driven middle market corporate financings across Australia and New Zealand, including leveraged buyouts, acquisition financings, growth capex, recapitalisations and refinancings. He has 26 years of capital markets experience across Australia, the UK, Europe and the Middle East, most recently as a Director in CBA's Corporate Finance team, with prior roles at firms including Wingate Group, Gandel Group, McGrathNicol, Babcock & Brown and EY. He holds Bachelor of Business (Banking & Finance) degrees from Monash University and a Graduate Diploma in Applied Finance & Investment.
David Elms is a Director at Epsilon Direct Lending with around 10 years of banking experience in corporate and leveraged finance, relationship management, and operations. He was previously an Associate Director in CBA's Leveraged Finance & Private Equity team, focusing on originating and executing mid-market and large-cap growth and event-driven financings across Australia, and earlier held roles at HSBC and CBA. He holds a Bachelor of Commerce (Finance) and a Bachelor of Economics (Quantitative Methods) from the University of Queensland and has passed Level 2 of the CFA Program.
Brendan Foley is a Non-Executive Director of Epsilon Direct Lending and serves on its Audit and Compliance Committees. He has over 30 years of experience in investment management, professional services and technology, having co-founded Select Asset Management Limited in 2002 (sold to OneVue Holdings in 2014) and Inventure (later Fenics Limited) in the UK in 1995. He previously held senior roles including at Man Group PLC and qualified as a Chartered Accountant with Ernst & Young, and holds Bachelor of Science and Bachelor of Accounting degrees from the University of Witwatersrand.
Cameron Harris is Head of Wholesale Investor Distribution at Epsilon Direct Lending, with more than 25 years in financial services across sales, distribution, and sales leadership. His experience spans retail and institutional equities, equity derivatives, credit, investment management, and structured solutions, working with private banks, HNW wealth advice firms, and MFOs. He spent much of his career at Macquarie Group, with earlier roles at Deutsche Bank and ABN Amro in the UK, and holds a Bachelor of Economics from Sydney University and a Graduate Diploma of Investment and Applied Finance from the Securities Institute of Australia.
Duncan Hodnett has more than 20 years of experience in asset management across traditional and alternative asset classes, having worked with institutional investors in Australia, New Zealand, the UK, Europe, and the USA. He began his career at BT Financial Group (now Pendal) and later held roles at Macquarie Group's Equity Markets Division in Sydney and London, Eaton Vance, Pinnacle Investment Management, and Maple-Brown Abbott as Head of Global Distribution. At Epsilon Direct Lending he leads investor relations and distribution, focusing on business growth across investor channels. He holds a Master of Management from Macquarie Graduate School of Management.
Frequently asked questions
- What sectors does Epsilon Direct Lending focus on?
- Epsilon Direct Lending focuses on Sector Agnostic.
- Where is Epsilon Direct Lending located?
- Epsilon Direct Lending is headquartered in Melbourne, AU.
- Does Epsilon Direct Lending lead rounds?
- Epsilon Direct Lending typically participates in rounds rather than leading them.
Media · Podcasts & interviews
featuring the teamPrivate direct lending: IN60 with Mick Wright-Smith from Epsilon Direct Lending - YouTube
The Inside Adviser · Mick Wright-Smith
INDepth with Mick-Wright Smith from Epsilon Direct Lending
The Inside Adviser · Mick Wright-Smith
INSight #268 with Mick Wright-Smith from Epsilon Direct Lending - YouTube
The Inside Network · Mick Wright-Smith
INBrief with Paul Nagy from Epsilon Direct Lending - YouTube
The Inside Network · Paul Nagy
The Inside Network Credit Masterclass – Joe Millward from Epsilon Direct Lending – INBrief - YouTube
The Inside Network · Joe Millward
Mick Wright-Smith from Epsilon Direct Lending answers the question: 'EBITDA–Love it or Hate it?' - YouTube
The Inside Network · Mick Wright-Smith
Images
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