Private Debt Investor Podcast

This episode first appeared on Secondaries Investor's Second Thoughts podcast, which you can subscribe to by clicking here, or searching wherever you listen to podcasts.

Private credit secondaries has the potential to surpass private equity in deal volume over the longer term as more secondaries investors pursue yield and diversification amid market volatility.

Over the past year, several billion-dollar-plus deals have emerged in t...

Over the last few years, talk of private credit’s “golden age” has grown louder, with predictions from various sources that the asset class could eventually grow to around $20-25 trillion in size from its current level of $2-3 trillion. Yet, fundraising has slowed since its peak in 2021. So was all the talk premature?

Jess Larsen, founder and chief executive officer of private credit-focused placement agent Briarcliffe Credit Partn...

This episode is sponsored by Rithm Capital

The asset-based finance market is heating up, with a raft of private credit investors increasingly taking note of the strategy – and for good reason. Capable of delivering strong returns even in challenging macroeconomic environments due to its cashflow-oriented nature, ABF represents a rather unique offering for lenders and LPs alike.

But contrary to what many might think, ABF is not a pa...

Growing scale is one of the big themes in private debt as a small group of mega-sized GPs expand their platforms rapidly – both building on existing strategies like direct lending and colonising new areas such as asset-based lending and specialty finance.

Among the largest of these managers is Goldman Sachs Asset Management, one of the early pioneers of the asset class. In this edition of The Private Debt Investor Podcast, we hear ...

Private debt's rapid growth is continuing to attract attention from junior professionals that are looking to make a career for themselves in this dynamic market. But how can they stand out from the crowd and prove their value in what is an increasingly competitive labour market?

In November, Private Debt Investor unveiled its annual list of Rising Stars of Private Debt, which highlights the young professionals that are blazing a tr...

Last year, the European Commission launched a consultation seeking feedback on the functioning of the EU Securitisation Framework. Among those organisations submitting a response to this was the Alternative Credit Council, the body representing private credit asset managers led by global head Jiri Krol.

The Private Debt Investor Podcast caught up with Krol to find out what was at the heart of the ACC’s response. The organisation be...

This episode is sponsored by Golub Capital

Private credit has enjoyed massive growth for more than a decade, but there are real questions about what happens when conditions are less favourable. How can lenders that launched during the good times continue to succeed when the market changes?

David Golub of Golub Capital knows from experience. Golub Capital was founded 30 years ago and has performed well in all kinds of market conditi...

This episode is sponsored by Sculptor Capital Management

The last 24 months have been a period of uncertainty and volatility in credit markets, with rising inflation and higher interest rates putting borrower capital structures under pressure and making it difficult for lenders to price risk.

These headwinds have proven challenging for mainstream lenders. But for opportunistic credit investors, it has provided a window to unlock at...

This episode is sponsored by Arrow Global

Private debt has enjoyed sustained success in recent years, with private credit firms stepping in to fill the void left by the retreat of banks from their traditional lending role. The outlook for the asset class in Europe remains strong, as firms continue to find compelling opportunities, even in sectors that face market headwinds.

A persistent supply-demand imbalance in the housing market...

This episode is sponsored by Bain Capital

Asia’s credit markets are the largest in the world, yet they remain heavily bank dominated. While large blue-chip businesses are well serviced, there is a material undersupply of custom, fit-for-purpose capital for SMEs, mid-market businesses, and financial sponsors. This is creating a significant opportunity for direct lenders.

Asia’s credit markets are also complex and nuanced, which plac...

In this episode, Andy Thomson meets with Raymond Wright, a portfolio manager in private markets at the London Collective Investment Vehicles, which was established in 2015 as one of eight UK Local Government Pension Scheme asset-pooling companies.

Wright discusses the organisation’s private debt-focused funds of funds and how he has gone about building portfolios through client collaboration – which, by his own admission, is a proc...

This episode is sponsored by 17Capital

NAV finance used to be a niche, little known corner of debt capital markets, but over the past 10 years it has evolved into a firmly established part of the private markets ecosystem.

As NAV finance has moved into the mainstream, private capital managers have taken up NAV facilities in ever greater numbers to address a wide range of financing requirements.

So, how are managers using NAV financ...

This episode is sponsored by the Credit Investments Group (CIG)

Private credit has expanded exponentially in recent years, with most citing the contraction in syndicated markets as the cause of that growth. But now those markets are opening back up, and questions linger about how that will affect private credit.

So what do continued inflation and elevated interest rates mean for today's managers? What does private credit look like ...

This episode is sponsored by Blackstone

Private credit has seen significant growth over the past year, with some of the largest asset managers increasing their allocations to the sector. It comes as volatile market conditions and geopolitical tensions have plagued most industries, revealing private debt as a more secure source of capital. So, how are firms looking to take advantage of this uptick in activity? And what areas will th...

In this episode, we catch up with Jiří Król, global head of the Alternative Credit Council within the Alternative Investment Management Association. The ACC is a body that represents the private credit industry to policymakers, legislators and regulatory authorities globally.

In the conversation, Król discusses implications arising from the second, revised version of the Alternative Investment Fund Managers Directive (AIFMD), which...

In this episode, we catch up with Reji Vettasseri, lead portfolio manager for private markets investments at Decalia, a Geneva-headquartered wealth management specialist.

Vettasseri reflects on some of the key takeaways from PDI’s LP Perspectives 2024 study in conversation with PDI senior editor Andy Thomson and explains why he thinks appetite to invest in private debt funds is growing after a challenging fundraising year in 2023. ...