In this episode of The Wealth Exchange, Rob Olsen, Head of Private Capital, is joined by Stacey Mouadeb, Director in Nicola Wealth's private debt platform, for a conversation with Rick Jain, Partner and Global Head of Private Credit at Pantheon.

Together, they break down credit secondaries: what they are, how they work, and why more institutions are using them to create liquidity, rebalance portfolios, and manage risk.

Rick explains how buying existing portfolios of loans at a discount can help investors seek income, diversification, and potential upside, while still putting capital protection first – a key difference from traditional private equity secondaries.

The discussion also follows Rick's path from growing up in Toronto to building a global private credit platform in New York, and explores how Pantheon and Nicola Wealth think about quality, scale, and downside protection in today's environment.

Whether you're already invested in private credit or simply curious about how this part of the market works, this episode offers a clear, practical introduction to an area that is becoming increasingly important for investors.