TCW’s CIO of fixed income says feedback loop on AI spending is broken
PODCAST: The capital spending on AI, equity prices and associated momentum are like nothing seen before – and that has broken the natural feedback loop that conventionally slows borrowing, contends Bryan Whalen, CIO of fixed income at TCW, on the latest episode of Credit Exchange with Lisa Lee

Golub co-CEO sees a Darwinian moment for private capital
PODCAST: The private equity industry is in a Darwinian moment, according to David Golub, co-CEO of direct lending specialist Golub Capital, on the latest episode of Credit Exchange with Lisa Lee

Golub logs record amount of private credit trading this year
EXCLUSIVE: Golub Capital has logged more than USD 2bn in private credit trading over the first half of 2026, a record for the firm

Dispersion is creating value in credit despite tight spreads – PIMCO
PODCAST: While index spreads remain tight, dispersion is quite elevated, which rewards those who do the credit work, says Lotfi Karoui, multi-asset credit strategist at fixed-income behemoth PIMCO, on the latest episode of Credit Exchange with Lisa Lee

Andalusian CEO says smaller firms are managing energy price spikes ‘quite well’
PODCAST: Smaller enterprises have become more comfortable with oil and fuel price volatility and market spikes and are managing it fairly well, according to Aaron Kless, CEO and CIO of direct lending specialist Andalusian Credit Partners

Seregh’s founder and CEO discusses opportunities in sports and arena real estate
PODCAST: Sports and entertainment-related real estate are among the “last frontiers of alpha”, according to Jonathan Fascitelli, founder and CEO of Seregh, a 'venue-anchored' real estate platform

Co-head of Permira Credit says to brace for more complex, late-cycle environment
PODCAST: While the market is clearly late in the credit cycle, it is not yet obviously at the turning point, Ariadna Stefanescu, co-head of Permira Credit tells Lisa Lee on on the latest episode of Credit Exchange

Canyon’s CIO says more distressed opportunities await
PODCAST: A looming maturity wall and problems in the software space point toward a return to more traditional distressed opportunities, says Jeff Kivitz, chief investment officer at Canyon Partners, on the latest episode of Credit Exchange with Lisa Lee

Carlyle’s deputy CIO of credit says inflationary cost pressures starting to emerge
PODCAST: Inflationary impacts are beginning to emerge and are hard to ignore, although they remain manageable for now, according to Carlyle's deputy CIO of global credit Alex Chi on the latest episode of Credit Exchange

Goldman Sachs scopes out private credit opportunity
Opportunities are “everywhere” in private credit, as the dust starts to settle around the software sell-off, according to Goldman Sachs’ co-head of private credit James Reynolds

BCA’s chief geo-macro strategist says Iran war could result in surprisingly aggressive rate hiking cycle
PODCAST: Speaking with Lisa Lee on the latest episode of the Credit Exchange podcast, macro and geopolitical expert Marko Papic says there are a number of inflationary elements coming together that could lead to more aggressive action than previously expected by the Fed and other central banks

Barings co-head of global investments says investors can expect to see more trading of private credit loans
PODCAST: Speaking on the latest episode of the Credit Exchange podcast with Lisa Lee, David Mihalick says it is natural to expect an increase in activity as people increase their portfolio allocations to private markets

Goldman’s global co-head of private credit says dispersion in performance is increasing
PODCAST: Speaking with Lisa Lee on the latest episode of the Credit Exchange podcast, Goldman Sachs’ global co-head of private credit James Reynolds says LPs are currently flocking to quality and scale

Oaktree’s deputy CIO of strategic credit says we’re in the early innings of private credit dislocation
Oaktree has been very opportunistic about deployment in cycles or dislocations, which the market may be in the early stages of, says Milwood Hobbs, Jr., deputy chief investment officer of the firm’s strategic credit platform, on the latest episode of the Credit Exchange podcast with Lisa Lee

KPMG’s US head of private equity discusses Milken, AI and retail money
PODCAST: The continued evolution of AI is seeing it shift to middle- and back-office applications in finance, says David Neuenhaus, US head of asset management and private equity at KPMG, on the latest episode of Credit Exchange with Lisa Lee

Blackstone’s head of international says negative private credit headlines should wane soon
PODCAST: Dan Leiter, head of international and global head of liquid credit strategies for Blackstone Credit and Insurance, tells Lisa Lee on the latest episode of the Credit Exchange podcast there is also more clarity to come on the disruptive effects of AI, as it becomes more evident where there will be significant disruption and where moats will prove more robust than expected

Wellington’s macro strategist says China may come out as a winner from the oil shock -- podcast
With global economies adjusting to the oil shock from the Iran war, it is China that has shown surprising resilience, says Juhi Dhawan, macro strategist at Wellington Management, on the latest episode of the Credit Exchange podcast with Lisa Lee

Benefit Street Partners CEO says private credit’s doomsday scenario is overblown
PODCAST: The ‘doomsday scenario’ for software loans represents a complete over-exaggeration, says David Manlowe, CEO of Benefit Street Partners, on the latest episode of Credit Exchange with Lisa Lee

ICG’s head of US liquid credit says Iran war will cause pain for consumers, housing
PODCAST: Consumer-related aspects of the economy – ranging from housing and travel to apparel and retail – are already “feeling a decent amount of pain”, and the trend is expected to continue, according to ICG's David Saitowitz, speaking on the latest episode of the Credit Exchange podcast with Lisa Lee

Hayfin co-head of direct lending says European private credit better geared to weather uncertainty than US
PODCAST: European private credit is less exposed to software as well as retail withdrawals, making them better positioned than their US counterparts to weather uncertainty, says Marc Chowrimootoo, co-head of direct lending at alternative asset manager Hayfin, on the latest episode of the Credit Exchange podcast with Lisa Lee

Apollo’s head of investments Europe says private credit is going through a rite of passage
PODCAST: Speaking on the latest episode of the Credit Exchange podcast with Lisa Lee, Apollo’s head of investments Europe Tristram Leach says he believes direct lending will continue to grow – but it needs to go through a period where there are elevated redemptions in the market

Napier Park’s CIO says firm has stockpiled cash to buy mispriced assets
PODCAST: The alternative asset manager, which oversees USD 40bn in AUM, has been prepping for a repricing of financial assets that predates the Iran war and the software crisis, according to its Chief Investment Officer, Jonathan Dorfman, speaking on the latest episode of Credit Exchange with Lisa Lee

Private credit still deploying despite increasing risks – head of credit at CVC
PODCAST: Andrew Davies, head of credit at CVC Capital Partners, says the present uncertainty offered opportunities to reconsider the pricing of transactions, and the ability to structure those deals more conservatively

Ares’ co-head of alternative credit says AI will hit a bit of a wall due to “sheer capital” need
PODCAST: The AI boom is likely to be slowed down because the sheer amount of capital that is required to maintain the pace of these projects is unsustainable, says Joel Holsinger, co-head of alternative credit at Ares Management, on the latest episode of Credit Exchange with Lisa Lee

KKR’s co-head of credit says ‘it’s adult swim only’ in markets
PODCAST: Christopher Sheldon, co-head of credit and capital markets at KKR, tells Lisa Lee on the latest episode of Credit Exchange that 2026 is set to be defined by avoiding mistakes rather than picking winners, with elevated defaults and downgrades resulting in a challenging investing environment