Alternative Investing: Alts For All - [Business Breakdowns, EP.234]
This is Matt Reustle. Today, we are back to talk about increased access to alternative investing. My guest is Josh Clarkson, managing director at Prosek Partners. You may remember that Josh joined us last year in our primer series on private credit. He is back today to discuss what this development could mean for all the counterparties involved.
We put some numbers around the opportunity, cover what asset managers might be best positioned to capture it, the strategies that most naturally fit, and some of the risks to the investor base. It is a fascinating theme that I expect to continue gaining momentum. Please enjoy this Breakdown on Alternative Investing.
For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.
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Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes.
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
Show Notes
(00:00:00) Welcome to Business Breakdowns
(00:02:47) The $4 Trillion Opportunity in Alternative Investments
(00:04:13) Headlines and Market Concerns
(00:07:09) Regulatory Changes and Historical Context
(00:09:31) Private Wealth Channel and Product Evolution
(00:10:29) Investor Education and Liquidity Considerations
(00:15:34) Future of Private Markets and Alternative Investments
(00:27:27) The Role of Major Players and Market Dynamics
(00:45:18) Lessons From the Alternative Investing Industry
The Evolution of Private Credit: Part 2 - [Business Breakdowns, EP.164]
Welcome back for part two of this business breakdown on the private credit markets. I am now joined by Josh Clarkson, managing director at Prosek Partners.
Our discussion with Armen was really focused on the supply & demand dynamics of private credit, where the public markets & regulatory markets have played a role, that certainty and speed of getting deals done, and how that has proved to be an advantage for private credit versus traditional solutions.
In our conversation with Josh, we transition into some broader takeaways, the history of the private credit markets, and some of the wrappers and what they have meant to the private credit markets. You will often hear about business development companies (BDCs), and we get into exactly how they are differentiated from traditional solutions. We also cover differentiation within that own subsegment, the public BDCs versus the private BDCs, what has happened in times of stress, what the fundraising environment has been like, and the future market outlook. Please enjoy part two of our breakdown on private credit.
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For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.
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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
Show Notes
(00:00:00) Welcome to Business Breakdowns
(00:05:32) Deep Dive into Private Credit Markets: Part Two
(00:06:57) Exploring the Competitive and Collaborative Dynamics of Banks and Private Credit Funds
(00:10:41) The Mechanics of Leverage in Private Credit Funds
(00:12:10) The Evolution of Business Development Companies (BDCs)
(00:19:34) Sector-Specific Strategies in Private Credit
(00:24:48) Historical Context: Life Insurance Companies as Original Credit Providers
(00:26:19) The Financial Crisis: A Turning Point for Private Credit
(00:28:39) The Role of BDCs in Today's Private Credit Landscape
(00:31:08) Differentiating Private Credit Strategies and Structures
(00:34:39) Navigating the Complex World of BDC Metrics and Valuations
(00:41:47) Adapting to Rising Rates: Strategies and Opportunities
(00:46:27) Looking Forward: Innovation and Growth in Private Credit