Private credit is suddenly everywhere in the headlines.

Redemption requests are rising. Retail investors are panicking. And many people who don’t even understand private credit are suddenly convinced something is “breaking.”

So what’s actually happening?

In this special episode of Financial Detox, Jason and Alex sit down with Phil Huber, Managing Director & Head of Portfolio Solutions at Cliffwater, one of the leading firms in the private credit space, to unpack what private credit really is, how it works, the risks investors should understand, and why today’s headlines may not tell the full story.

What we cover today:

📌 What private credit actually is, and why it exists

📌 How the 2008 financial crisis changed lending markets

📌 Why banks pulled back from middle-market lending

📌 The difference between private credit and traditional bonds

📌 What “redemption panic” really means in semi-liquid funds

📌 The real risks investors should understand before allocating

📌 How private credit performed during the GFC, COVID, and rising rates

If you’ve been hearing alarming headlines about private credit, interval funds, or redemptions, this episode will help you separate emotional narratives from actual portfolio construction principles.

💬 Want Help Reviewing Your Portfolio?

If you want to better understand whether alternatives, private credit, or private markets belong in your portfolio, schedule a no-cost, no-obligation consultation with the IDA Wealth team:

https://www.idawealth.com/contact/

🔗 Learn more about Cliffwater and private credit research: https://www.cliffwater.com/

📺 Watch us on YouTube

Episode Disclosure:

The information in this episode of Financial Detox is for educational and informational purposes only and should not be considered personalized investment, financial, tax, or legal advice.

This episode features Phil Huber, Managing Director at Cliffwater, appearing in an unpaid capacity. Cliffwater is one of multiple fund managers IDA evaluates and utilizes, and IDA does not maintain an exclusive relationship with Cliffwater. All statements made by Phil Huber regarding Cliffwater, its funds, or the private credit market reflect the views and opinions of Cliffwater and its representatives only and should not be interpreted as an independent endorsement by IDA of Cliffwater or any of its products.

Any references to historical performance, yield figures, index returns, credit loss statistics, or capital market assumptions discussed in this episode are sourced from Cliffwater and reflect Cliffwater's own research and proprietary index data. For full methodology, performance history, and supporting documentation, visit cliffwater.com. All performance figures represent the opinions of Cliffwater and are not guaranteed. Past performance is not indicative of future results, and there is no guarantee that historical return or loss patterns will continue.

Any statements by IDA suggesting the firm may add value for clients reflect general expressions of the firm's investment philosophy and are not a guarantee of any specific outcome or return. Actual results will vary based on individual client circumstances, market conditions, and other factors outside IDA's control.

All investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. No statement in this episode should be interpreted as a promise of performance, or a guarantee of results.

Intelligence Driven Advisers ("IDA") does not provide specific tax or legal advice. Intelligence Driven Advisers is an SEC-registered investment adviser. Registration does not imply a certain level of skill or training. For more information, including our Form ADV Part 2A and Form CRS, visit www.idawealth.com.