Bloomberg reported that Australia’s corporate regulator moved to restrict activity in two Angas Securities funds, citing concern that investors may not have had enough information about the firm’s finances and related risks.
Bloomberg reported that ASIC’s interim orders bar Angas Securities Limited from making offers for interests in the two schemes, issuing new interests, selling them or transferring them. The report said ASIC was concerned investors in both funds may not have received adequate information about Angas Securities’ financial position and related risks. For Angas Prime, the concerns included its exposure to Bathla Group.
Bloomberg reported that an ASIC statement quoted Commissioner Simone Constant as saying investors need “clear and timely information” about the risks they are taking on. Constant also said ASIC would “act swiftly,” Bloomberg reported.
Teneo’s creditor portal records that voluntary administrators were appointed to Universal Property Group, Raj & Jai Construction and associated Bathla Group companies on Aug. 25, 2026. At Bathla’s first creditors’ meeting on Sept. 4, administrators reported about A$3.4 billion in known claims, including A$3.08 billion owed to secured lenders, ABC News reported.
Angas says Angas Prime targets monthly income and lends against Australian real estate, with each loan backed by a registered first mortgage. The fund says distributions are not guaranteed.
ASIC’s general guidance says a stop order can prevent offers, issues, sales or transfers under a disclosure document. An interim order may remain in force for up to 21 days while a hearing takes place; afterward, ASIC may lift the restriction or impose a final order.
ASIC says its November update on surveillance across retail and wholesale private-credit funds will include findings, two additional expert reports and a roadmap for future work.
