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Private Credit has risen from obscurity within the private equity financing world to a greater than $2T asset class in just over a decade. In this episode, we examine the conditions (M&A, debankification, regulation, staying private longer) that accelerated post the GFC that created a torrent of issuance and demand for private credit across direct lending, asset backed credit, structured credit, and innovative special situations. And more importantly, we debate whether we’ve come a little too far, too fast, and if some rationalization and refining is needed before this exciting space continues its upward trajectory.

Introduction (0:47)

Halftime (39:40)

Guests (45:51)

Guests:

Katie Koch, CEO, TCW

Kipp DeVeer, Partner and Head of Credit, Ares Management

Episode Sources