This episode is sponsored by Rithm Capital

Asset-based finance is rapidly evolving within the world of private credit, offering investors a differentiated source of risk-adjusted returns. With the market valued at over $20 trillion, it underscores the vast scale and growing importance of this segment as investors seek alternative opportunities amid shifting economic conditions.

In this episode, we speak to Michael Nierenberg, CEO of Rithm Capital, to discuss why asset-based finance is becoming more popular with investors. We analyse the opportunities ABF brings, while also exploring how managers are differentiating themselves in a competitive market.

This episode is sponsored by Nuveen

The private debt industry continues to go from strength to strength, with several key segments of the market gaining further traction with institutional investors as they seek out strong returns in an uncertain macroeconomic environment.

Both geography and strategy will be crucial to attract LPs in the coming months and years - Europe and the US each have significant market factors at play that will determine the trajectory and rate of private credit growth across both markets, while the infrastructure-focused investment-grade space is seeing strong dealflow despite volatility.

In this episode, we speak to Randy Schwimmer, vice chairman and chief investment strategist at Churchill Asset Management; Laura Parrott, a senior managing director and head of the private fixed income group at Nuveen; and Michael Massarano, a partner and deputy CIO of Arcmont Asset Management, to find out more about the dynamics driving private debt activity across these three key segments.

This episode is sponsored by Arrow Global

To be a successful player in the distressed lending market, one needs to understand the importance of timing. The current macroeconomic environment offers plenty of opportunities for distressed lenders looking to assist businesses struggling with market dislocation, bank retrenchment and policy uncertainty. However, lenders that look to take a more opportunistic approach to the strategy may not be able to deliver the kinds of returns sought by increasingly sophisticated investors.

In this episode, we speak with Zach Lewy, founder, CEO, and chief investment officer of Arrow Global, to discuss the importance of taking a long-term view on potential targets and the opportunities and risks associated with the strategy.

We also explore why default rates are no longer truly indicative of distress in the market and why lenders who have pan-European footprints are particularly well-placed to benefit from market dislocation.