108: Victory Park Capital's Brendan Carroll – Private Credit, Asset-backed Lending, ChatGPT

Private credit has evolved significantly since the global financial crisis, and Brendan Carroll, Senior Partner at Victory Park Capital, has been at the forefront of that transformation. In this episode, we explore how private credit investments are adapting to meet the needs of insurers, the growing role of asset-backed lending, and why insurance companies are becoming the fastest-growing investor base in the space. Brendan also shares insights on navigating competitive market dynamics, the resilience of private credit through economic cycles, and the implications of Victory Park Capital’s acquisition by Janus Henderson Investors. Plus, a look at ChatGPT and the future of real-time data in investment management. Tune in for a deep dive into the past, present, and future of private credit investing! Overview of podcast with Brendan Carroll, Victory Park Capital 01:00 Getting started in investing 03:00 Setting up the firm in GFC 06:00 Asset backed lending 07:30 Insurance-friendly strategies 09:00 Insurers are the fastest growing LP types 13:00 The industry has always been competitive 17:30 Historic data sees through cycle 18:30 Business review triggers 28:00 The Janus Henderson acquisition 31:00 Developing ChatVPC (not a spelling mistake!)