With some sectors of the private credit market facing rising redemptions, liquidity scrutiny and weakening confidence, concentrating portfolios in a narrow, illiquid slice of the market is hard to justify – especially when private credit is only ~10% of Australia’s ~$2.2 trillion credit universe. The challenge is no longer accessing income, but generating it without sacrificing diversification, liquidity or flexibility, and higher income need not mean a shift into illiquid strategies. A multi-sector approach offers a credit opportunity set ~10x larger than private credit, daily liquidity instead of quarterly gates, and diversified relative value across every sector – capturing similar yield without concentrating risk in one illiquid slice.