Robert Koenigsberger isn’t rattled by uncertainty, at least when it comes to markets. That may be simply part of his natural constitution. He started his career in the 1980s when emerging markets were essentially a collection of bank loans in default…

AI is fueling the largest borrowing boom in at least a generation. But Greg Peters argues that focusing on AI alone misses the bigger story playing out across credit markets.“You’re seeing this AI build out at the same time you’re seeing sovereign debt market also growing, Peters says in the podcast. “So there’s a competition for capital. And it’s unrelenting. I’m calling it the “endless buffet.”“All else equal that pushes rates higher, pushes spreads wider. That is the story that’s not really t

AI is fueling the largest borrowing boom in at least a generation. But Greg Peters argues that focusing on AI alone misses the bigger story playing out across credit markets.In this conversation, the co-chief investment officer of PGIM Fixed Income…

One of the things I enjoy most about interviewing longtime investors is hearing them challenge assumptions that many people have come to accept as fact. That happened repeatedly in my conversation with Ken Kencel, president and CEO of private capital manager Churchill Asset Management. The highest returns don’t necessarily belong to the best manager or fund. The biggest deals aren't always the safest. And in an industry awash in capital, relationships may matter more than ever.

Private credit isn’t the new story anymore. The more interesting questions are about what happens as the industry matures. That's where my conversation with Churchill CEO Ken Kencel begins.I found myself coming back to one phrase from our…

More than a decade ago, I wrote a story called "Is Alpha Dead?" The premise was simple: Markets had become so competitive, so efficient, and so crowded that generating excess returns was getting harder and harder.Andre Perold, CIO of HighVista…

In this episode, I spoke with Stuart Fiertz, co-founder and president of Cheyne Capital.I've known Stuart for years and one of the things I appreciate most about him is his willingness to say things that many people in the industry are thinking but…

In this episode, I speak with Luke Sarsfield of Ridgepost Capital about what’s actually changing in private markets — and what isn’t.At the center of our conversation is a tension that’s easy to miss: investors in private markets aren’t just dealing…

In this episode, Nick Liolis explains how Guardian reworked its investment model, moving its investment function into partnerships with HPS Investment Partners, Janus Henderson, and Hamilton Lane. Instead of simply allocating capital, the firm…

Julie Segal speaks with Hamza Lemssouguer about the evolution of credit markets and the risks emerging in parts of private credit.They discuss how Europe’s fragmented system differs from the U.S., how the post-2022 shift in rates and liquidity is…

After years of directing time, attention, and capital toward private markets, institutional investors are taking a fresh look at whether they underinvested — intellectually and operationally — in public markets.Gerard O’Reilly, co-CEO of Dimensional…

Amherst Group CEO Sean Dobson discusses the push to restrict institutional homebuyers, his work with lawmakers in Washington, and the politics driving the debate over single-family rentals.Take a listen and email me with your thoughts and ideas at…

I first got to know Soraya Chabarek the way many relationships now begin: entirely on screen. Meeting in person was different. As Soraya notes in this episode, technology accelerates access, but it can’t replace human connection — a belief that has…

In Episode 11, which was recorded live at the Morningstar Investment Conference in Chicago, Julie Segal talked to BlackRock’s Rick Rieder, who created THE buzz at the conference after his morning presentation, which he boldly called ‘What Is Money’…

Imagine waking up to discover that decades of data on stocks never included key industries (technology anyone?), making every major index misleading and leaving people to question everything about their equity portfolios, including how much they’ve…

In episode 9, Julie talks to Robert Goldstein, who has been the chief operating officer of BlackRock for 10 years and who started as a ‘green package’ analyst 30 years ago in 1994. Rob, who was part of groups that built the iconic green package into…

In episode 8, Julie talks to Ignacio Jayanti, CEO of private equity firm Corsair Capital, which spun out of J.P. Morgan Chase in 2006. Before that, Jayanti had been on the investment team of the predecessor Corsair funds and managed the operations of…

David Hunt, president and CEO of PGIM, addresses how economies are being funded differently, what that means for investors’ portfolios, and how to foster contrarian thinking.Listen to Julie and David discuss:The rise in private market investments and…

In episode 6, Julie talks to John Wright about why it’s not enough anymore to just pick the best credits. While clearly counterintuitive statement, John, who is global head of credit and a partner, does go on to explain the alpha-generating…