This episode is presented by 9fin. The AI-native platform for modern credit teams.

Head to https://www.9fin.com/demo to request a 30-minute personalised demonstration.

00:00 - The Credit Clubhouse: Episode Introduction and Sponsor Spotlight

01:31 - Joel Holsinger Defines Asset-Based Finance at Ares

02:16 - Joel Holsinger's Core Definition of Asset-Based Finance

03:18 - Key Drivers Behind Asset-Based Finance's Institutional Embrace

06:44 - Attracting LPs: Insurance and Non-Insurance Capital in ABF

10:20 - Trade-offs Between Captive and Flexible Investment Approaches

12:57 - Good and Bad Innovations in Fund Structures and Market Risks

18:16 - Viewing Fund Finance as a Sub-Segment of Asset-Based Finance

22:15 - The Expansion of NAV Lending and Secondary Market Liquidity

26:11 - Why Markets Are More Resilient: Less Systematic Risk Today

32:09 - Joel Holsinger's Personal Journey to Promote Giving

35:31 - Ares' Initiative: Compounding Purpose Through Philanthropy

40:05 - Joel Holsinger's Sports, Hobbies, and Life Philosophy

42:28 - Market Prediction and Strong Skepticism on Cryptocurrency Value

45:29 - Thank You for Listening to The Credit Clubhouse Podcast

Joel Holsinger, Co-Head of Ares Alternative Credit, Ares Management - https://www.linkedin.com/in/joel-holsinger-0739a74/

Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

https://linktr.ee/thecreditclubhousepodcast

This episode is presented by 9fin. The AI-native platform for modern credit teams.

Head to https://www.9fin.com/demo to request a 30-minute personalised demonstration.

00:00 - Welcome, Sponsor Message, and Guest Introduction

01:58 - Värde's ABF Evolution, Verticals, and Middle Market Focus

06:53 - Identifying Compelling Segments and Sourcing ABF Opportunities

09:35 - Fund Finance: Rapid Evolution to Standalone Sector

13:15 - Data Science to Avoid ABF Pitfalls and Fraud

18:37 - Blending of Bank and Non-Bank Fund Finance

23:22 - LP Adoption, Questions, and Current ABF Trends

27:47 - Missy Dolski's Rapid Fire Insights and Personal Favorites

31:13 - Thank You for Listening to The Credit Clubhouse

Missy Dolski, Partner and Global Head of ABF, Värde Partners - https://www.linkedin.com/in/missydolski/

Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

This episode is presented by 9fin. The AI-native platform for modern credit teams.

Head to https://www.9fin.com/demo to request a 30-minute personalised demonstration.

00:00 - Introduction to the Episode and Key Sponsor Announcements

01:31 - Navigating the Competitive Direct Lending Market Landscape

03:44 - Private Equity's Role and Segmenting Credit Markets

06:20 - Private Credit's Growing Share and Transparency Evolution

08:43 - The Future of Data Transparency in Private Credit

12:42 - Analyzing Sector Volatility and AI's Economic Effects

18:03 - Covenant Trends and Cyclicality in Credit Market Docs

23:42 - Identifying Key Risks and Macroeconomic Influences

30:51 - Guidance for New Private Credit Investors and Fund Structures

34:41 - Exploring New Avenues in Alternative Finance Strategies

36:52 - Practical Insights from Challenging Credit Investments

41:12 - Rapid Fire Questions and a Bullish Market Forecast

45:35 - Wrapping Up the Discussion and Podcast Outro

Michael Haynes, Head of Private Credit, Beach Point Capital Management - https://www.linkedin.com/in/michael-haynes-9550b295/

Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

This episode is presented by 9fin. The AI-native platform for modern credit teams.

Head to https://www.9fin.com/demo to request a 30-minute personalised demonstration.

00:00 - Welcome to the Clubhouse: Understanding Crypto and DeFi

02:43 - Demystifying Crypto and DeFi: Settlement Layers and Applications

07:56 - Why the World is Moving to a Stablecoin Economy

10:39 - Overcoming Hurdles: Adoption, Intermediaries, and Singleness of Money

19:22 - Institutional Interest Drives On-Chain Credit Expansion

24:12 - Real-World Applications: Stablecoins for Payments and Settlement

30:48 - Boom, Bust, and Beyond: Crypto's Generational Shift

36:18 - Rule Enforcement and System Competition in DeFi

40:48 - Connecting Blockchains: Interoperability, Security, and AI's Role

45:26 - Adrian's Hobbies, Book, and Future Predictions

Adrian Cachinero Vasiljevic , co-founder of Steakhouse Financial - https://www.linkedin.com/in/adriancachinero/

Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

Sign up for the Credit Crunch Blog - https://www.creditcrunch.blog/

00:00 - Welcome to the Clubhouse: Private Credit's Current State

02:58 - Why Big Funds Still Rule Private Credit Fundraising

06:56 - KSL's Niche: Capitalizing on the K-Shaped Economy

15:08 - From Evergreen Funds to 401Ks: Expanding Private Market Access

21:35 - Why Investors are Shifting from Private Equity to Credit

26:43 - Howard Marks' Warning: Is AI Creating a New Bubble?

31:05 - Market Bifurcation: Consolidation and the Future of Credit

Nick Smith, Portfolio Manager, Claret Capital Partners

https://www.linkedin.com/in/nick-smith01/

Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

00:00 - Kicking Off the New Year with Michael Nowakowski of Conning

01:21 - Assessing the Current State of Structured Credit Markets Today

03:38 - Uncovering Potential Red Flags in Today's Structured Credit Market

05:44 - How Private Debt is Reshaping Structured Credit Deal Terms

08:43 - Michael Nowakowski Details Conning's Structured Credit Focus

10:15 - The Rise of New Issuers in Digital Infrastructure Securitization

11:52 - Exploring the Blending of Public and Private Capital in Deals

14:01 - Why Esoteric Asset Classes Offer Appealing Opportunities Today

17:25 - Navigating the Risks and Caution in Data Center Investments

22:54 - Discovering Value in Other Structured Credit Asset Classes

25:22How Clients React to Major Market News and Policy Changes

27:35 - Michael's Hobbies, Book Picks, and a Bold Market Prediction

31:24 - Don't Miss Out: Exclusive Conference Offer for Listeners

Michael Nowakowski, Head of Structured Products, Conning - https://www.linkedin.com/in/michael-nowakowski09/

Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

If you have not yet taken the DealCatalyst Fund Finance Survey, please do so here. We welcome your input.

00:00 - Navigating Private Credit: Inside the Spread Volume 2

02:55 - EQT Acquisition and Global Rebalancing Fuel Secondaries Growth

09:59 - Blue-Chip Firms Dominate Private Credit Fundraising Landscape

13:41 - The Rise of Evergreen and Interval Funds in Private Credit

19:07 - Stay Tuned for New Guests and Podcast Segments

19:54 - Direct Lending Market Poised for Trillions in Growth

23:40 - Regulatory Easing and Bank Competition in Private Credit

28:18 - The Existential Challenge of Fintech Profitability and Scale

31:56 - Thank You and Final Podcast Announcements

Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

00:00 - The Credit Clubhouse Welcomes You and Launches "Inside the Spread"

03:44 - A Troubled History: The Host's Buffalo Bills Playoff Agony

06:21 - Examining Global Regulatory Scrutiny on the Private Credit Market

13:21 - Strong Fundraising and the Rise of Evergreen Private Credit Funds

18:39 - Exploring Private Credit Growth in Asia, Middle East, and Secondaries

22:21 - Don't Miss Out: Final Conference Reminders and Go Bills!

Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

00:00 - New Year Greetings and The Credit Clubhouse Growth

02:33 - Analyzing 2025's Up and Down Private Credit Markets

05:09 - How Banks Partner with Private Credit, Not Compete

09:14 - The AI Boom and Big Tech's Growing Debt Ratios

15:36 - Prioritizing Risk Management and Selective Deal Making in 2026

17:37 - Why BDCs Face Headwinds and Investor Expectation Resets

20:22 - The Growing Appeal of Asset-Based Finance Opportunities

24:13 - Host's Closing Thoughts and Exclusive Listener Offer

Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

00:00 - Clarifying GP Finance and its Role in Fund Management03:17 - Exploring Motivations and Capital Alternatives for GP Financing07:42 - How Crescent Capital Navigates Compelling Market Dynamics13:10 - Identifying the Ideal Target Sponsor for Crescent Capital16:05 - Understanding GP Financing Collateral and Bilateral Deal Structures19:43 - Expanding GP Finance to Other Funds and Crescent's Unique Advantage23:09 - Exploring Innovative Structures and the Evolving GP Finance Market25:17 - Anticipating the Future Evolution and Potential Impediments in GP Finance29:35 - Getting to Know Greg Hardiman with Rapid Fire Fun Questions32:03 - Don't Miss Out: Episode Wrap-up and Exclusive Listener Offer

Greg Hardiman, GP-LP Solutions, Crescent Capital - https://www.linkedin.com/in/gregory-hardiman/

Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/