Homeowners cashing out after a surge in real estate prices presents a major opportunity for debt investors, according to TPG Angelo Gordon. “We’re seeing the evolution of home equity products,” said TJ Durkin, the firm’s head of structured credit and specialty finance. “There could be $150 to $200 billion of origination per year, with a $2 trillion really addressable market there,” Durkin tells Bloomberg News’ James Crombie and Carmen Arroyo, and Bloomberg Intelligence senior credit analyst David Havens in the latest Credit Edge podcast. Durkin and Havens also discuss private debt, asset-based finance, commercial real estate, M&A and residential solar energy.

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