The Credit Clubhouse

Axos Bank brings you today’s episode.

Axos Bank. Born digital, built on relationships.

Check out DealCatalyst's 2027 event schedule, hot off the presses - https://www.dealcatalyst.io/events/2027-schedule

DealCatalyst Homepage⁠ - https://www.dealcatalyst.io/
DealCatalyst Events⁠ - https://www.dealcatalyst.io/events⁠
Private Credit Club⁠ - https://www.dealcatalyst.io/private-credit-club

Listeners can save 10 percent on conference tickets by using the promo code CREDIT at checkout.

00:00:00 - Kicking Off The Credit Clubhouse with Thomas Galbraith
00:01:59 - Understanding Barkr's AI Valuation for Hard Assets
00:04:27 - Tracing the Expansion of Asset-Based Finance
00:07:46 - How Technology Transforms Asset-Based Finance Underwriting
00:11:20 - Why Proprietary Data is Barkr's AI Advantage
00:13:48 - The Blurring Lines Between Public and Private Credit
00:17:20 - Building Client Trust with AI Transparency and Guarantees
00:24:06 - How Barkr Manages AI Risk and Augments Valuations
00:29:30 - The Future of AI in Credit and Avoiding Misconceptions
00:38:49 - Personal Hobbies, Books, and a 12-Month AI Prediction
00:44:56 - Wrapping Up the Credit Clubhouse Episode

Thomas Galbraith, CEO & Co-Founder, Barkr - https://www.linkedin.com/in/thomasgalbraith/

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

https://linktr.ee/thecreditclubhousepodcast

Important Disclosure: The views and opinions expressed here reflects the judgments and opinions of the speaker(s), do not purport to be complete, and do not reflect the official position of any affiliated firm, employer, or organization. No obligation to update or otherwise revise such views and opinions is being assumed. The content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or financial advice. Statements regarding market or economic conditions, forecasts, and forward-looking expectations are inherently uncertain, and actual results may differ materially. This content does not constitute, and should not be construed as, an offer of advisory services, securities or other financial instruments, a solicitation of an offer to buy any security or other financial instrument, or a recommendation to buy, hold or sell a security or other financial instruments in any jurisdiction. References to specific securities, issuers, indexes, and strategies are for illustrative purposes only, may or may not be currently held by the hosts and guests in a direct or indirect capacity, and are not intended to be, and should not be interpreted as, an indication that an investment has been or will be profitable. Listeners should conduct their own due diligence and consult with a qualified financial, legal, or tax professional before making any investment decision.

Axos Bank brings you today’s episode.

Axos Bank. Born digital, built on relationships.

Check out DealCatalyst's 2027 event schedule, hot off the presses - https://www.dealcatalyst.io/events/2027-schedule

DealCatalyst Homepage⁠ - https://www.dealcatalyst.io/
DealCatalyst Events⁠ - https://www.dealcatalyst.io/events⁠
Private Credit Club⁠ - https://www.dealcatalyst.io/private-credit-club

Listeners can save 10 percent on conference tickets by using the promo code CREDIT at checkout.

01:46 - Greg Ciesielski and the Evolution of Secondaries
05:55 - Why HarbourVest Launched a Dedicated Credit Secondaries Strategy
07:23 - Private Credit: Separating Headlines from Reality
09:57 - Software Risk, Market Dislocations and Buying Opportunities
11:42 - Who Is Selling Credit Assets and Why?
14:45 - LP Liquidity and the Growth of Credit Secondaries
16:47 - Supply, Demand and Pricing Opportunities
18:18 - Continuation Vehicles: Private Equity vs. Private Credit
20:41 - Underwriting Credit Secondaries and Managing Portfolio Risk
24:52 - Deal Sourcing, Intermediaries and Lead Arrangers
28:09 - Can Credit Secondaries Keep Up with Market Growth?
29:47 - The Time Traveler's Advantage in Credit Secondaries
34:24 - Fund Duration, Evergreen Vehicles and Future Liquidity
36:20 - What's Next for Credit Secondaries?
37:36 - Rapid Fire: Sports, Career Lessons and Market Predictions

Greg Ciesielski, Managing Director, HarbourVest Partners (Secondaries) - https://www.linkedin.com/in/greg-ciesielski-6980907/

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

https://linktr.ee/thecreditclubhousepodcast

Important Disclosure: The views and opinions expressed here reflects the judgments and opinions of the speaker(s), do not purport to be complete, and do not reflect the official position of any affiliated firm, employer, or organization. No obligation to update or otherwise revise such views and opinions is being assumed. The content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or financial advice. Statements regarding market or economic conditions, forecasts, and forward-looking expectations are inherently uncertain, and actual results may differ materially. This content does not constitute, and should not be construed as, an offer of advisory services, securities or other financial instruments, a solicitation of an offer to buy any security or other financial instrument, or a recommendation to buy, hold or sell a security or other financial instruments in any jurisdiction. References to specific securities, issuers, indexes, and strategies are for illustrative purposes only, may or may not be currently held by the hosts and guests in a direct or indirect capacity, and are not intended to be, and should not be interpreted as, an indication that an investment has been or will be profitable. Listeners should conduct their own due diligence and consult with a qualified financial, legal, or tax professional before making any investment decision.

Axos Bank brings you today’s episode.

Axos Bank. Born digital, built on relationships.

Check out DealCatalyst's 2027 event schedule, hot off the presses - https://www.dealcatalyst.io/events/2027-schedule

DealCatalyst Homepage⁠ - https://www.dealcatalyst.io/
DealCatalyst Events⁠ - https://www.dealcatalyst.io/events⁠
Private Credit Club⁠ - https://www.dealcatalyst.io/private-credit-club

Listeners can save 10 percent on conference tickets by using the promo code CREDIT at checkout.

00:00 - Diving into fund finance with Matt Wilbur
02:00 - Why fund finance lacks transparent pricing
04:46 - The natural evolution of fund finance products
06:35 - Underwriting sub-lines: data gaps and opinions
09:21 - Comparing fund finance and data sharing challenges
12:08 - Investor demand and fraud risk in fund finance
14:26 - What protects sub-line lenders in downside scenarios
18:22 - Is fund finance a recognizable institutional asset?
20:51 - Key changes for fund finance
23:56 - How new players drive fund finance evolution
26:44 - The future of liquidity and investor guidance
29:22 - Matt Wilbur's personal passions and industry excitement
32:14 - When will fund finance standardize?

Matt Wilbur, Founder, Silo Fund - https://www.linkedin.com/in/mrwilbur/

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

https://linktr.ee/thecreditclubhousepodcast

Important Disclosure: The views and opinions expressed here reflects the judgments and opinions of the speaker(s), do not purport to be complete, and do not reflect the official position of any affiliated firm, employer, or organization. No obligation to update or otherwise revise such views and opinions is being assumed. The content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or financial advice. Statements regarding market or economic conditions, forecasts, and forward-looking expectations are inherently uncertain, and actual results may differ materially. This content does not constitute, and should not be construed as, an offer of advisory services, securities or other financial instruments, a solicitation of an offer to buy any security or other financial instrument, or a recommendation to buy, hold or sell a security or other financial instruments in any jurisdiction. References to specific securities, issuers, indexes, and strategies are for illustrative purposes only, may or may not be currently held by the hosts and guests in a direct or indirect capacity, and are not intended to be, and should not be interpreted as, an indication that an investment has been or will be profitable. Listeners should conduct their own due diligence and consult with a qualified financial, legal, or tax professional before making any investment decision.

Axos Bank brings you today’s episode.

Axos Bank. Born digital, built on relationships.

Check out DealCatalyst's 2027 event schedule, hot off the presses - https://www.dealcatalyst.io/events/2027-schedule

DealCatalyst Homepage⁠ - https://www.dealcatalyst.io/
DealCatalyst Events⁠ - https://www.dealcatalyst.io/events⁠
Private Credit Club⁠ - https://www.dealcatalyst.io/private-credit-club

Listeners can save 10 percent on conference tickets by using the promo code CREDIT at checkout.

00:00 - Diving into credit markets with Andrew Axelrod, Axar Capital
02:34 - Why distressed investing is thriving today
05:50 - Liability management exercises and their limitations
08:38 - Understanding Axar's approach to distressed companies
13:09 - Identifying what goes wrong in troubled businesses
17:49 - Where Axar finds opportunities in middle market
21:09 - The financials sector and M&A market dynamics
26:19 - Deleveraging and leadership in company turnarounds
32:41 - Dispelling myths and leveraging technology in turnarounds
37:58 - Predicting restructuring waves and addressing LP concerns
42:49 - Key learnings and a glimpse into AI's impact

Andrew Axelrod. Founder and CEO, Axar Capital - https://www.linkedin.com/in/andrew-axelrod-87ab661b9/

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

https://linktr.ee/thecreditclubhousepodcast

Important Disclosure: The views and opinions expressed here reflects the judgments and opinions of the speaker(s), do not purport to be complete, and do not reflect the official position of any affiliated firm, employer, or organization. No obligation to update or otherwise revise such views and opinions is being assumed. The content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or financial advice. Statements regarding market or economic conditions, forecasts, and forward-looking expectations are inherently uncertain, and actual results may differ materially. This content does not constitute, and should not be construed as, an offer of advisory services, securities or other financial instruments, a solicitation of an offer to buy any security or other financial instrument, or a recommendation to buy, hold or sell a security or other financial instruments in any jurisdiction. References to specific securities, issuers, indexes, and strategies are for illustrative purposes only, may or may not be currently held by the hosts and guests in a direct or indirect capacity, and are not intended to be, and should not be interpreted as, an indication that an investment has been or will be profitable. Listeners should conduct their own due diligence and consult with a qualified financial, legal, or tax professional before making any investment decision.

Check out DealCatalyst's 2027 event schedule, hot off the presses - https://www.dealcatalyst.io/events/2027-schedule

DealCatalyst Homepage⁠ - https://www.dealcatalyst.io/
DealCatalyst Events⁠ - https://www.dealcatalyst.io/events⁠
Private Credit Club⁠ - https://www.dealcatalyst.io/private-credit-club

Listeners can save 10 percent on conference tickets by using the promo code CREDIT at checkout.

00:00 - Introducing Aaron Krawitz and today's credit market landscape
04:20 - How Bravo Capital differentiates in real estate lending
08:08 - Aaron's restructuring background shapes lending strategy
11:07 - Underwriting high-leverage deals and construction finance
14:27 - Understanding bank pullback and borrower priorities today
17:09 - Navigating HUD insured and healthcare real estate lending
23:05 - The importance of deep specialization in niche markets
27:11 - The reality of office to residential conversions in NYC
30:47 - Addressing overcrowding and geography in real estate credit
35:04 - AI's impact, culture's power, and LP misconceptions
40:16 - Identifying underappreciated risks and a market prediction

Aaron Krawitz, CEO and Founder, Bravo Capital - https://www.linkedin.com/in/aaronkrawitz/

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

https://linktr.ee/thecreditclubhousepodcast

Important Disclosure: The views and opinions expressed here reflects the judgments and opinions of the speaker(s), do not purport to be complete, and do not reflect the official position of any affiliated firm, employer, or organization. No obligation to update or otherwise revise such views and opinions is being assumed. The content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or financial advice. Statements regarding market or economic conditions, forecasts, and forward-looking expectations are inherently uncertain, and actual results may differ materially. This content does not constitute, and should not be construed as, an offer of advisory services, securities or other financial instruments, a solicitation of an offer to buy any security or other financial instrument, or a recommendation to buy, hold or sell a security or other financial instruments in any jurisdiction. References to specific securities, issuers, indexes, and strategies are for illustrative purposes only, may or may not be currently held by the hosts and guests in a direct or indirect capacity, and are not intended to be, and should not be interpreted as, an indication that an investment has been or will be profitable. Listeners should conduct their own due diligence and consult with a qualified financial, legal, or tax professional before making any investment decision.