Private Credit: Hype, Hazard, or the Next Big Thing? (With Huw Van Steenis, Oliver Wyman)

Video Description

When someone speaks with a deep of understanding of the banking and finance systems, is widely respected, and then expresses a strong but debatable view, about a developing asset class, we think it’s important to hear that voice and to challenge and distil its key messages. So in this episode we welcome back a former guest who appeared on the MMP in March 2023 during the banking storm, during with Silicon Valley Bank and then Credit Suisse. His conclusion was unequivocally that this was no repeat of the 2008 GFC, as has been proven. In addressing his recent report from Oliver Wyman, titled “private credit is reshaping wealth portfolios”, we wanted to challenge him on several issues. We ask whether it is really that innocuous? Is this a trend which will serve big private asset firms at the expense of individuals? How about bad times and souring loans? Does the loss of liquidity matter? We also ask if we're swapping risks from the regulated banking sector to the unregulated world of the giant private market firms? And so Huw and I face off in a discussion on the risks and opportunities that are the hallmarks of this fast-growing slice of the investing world! Subscribe to stay up to date with our range of fascinating interviews, featuring some of the biggest names in global finance and business. RECORDING DATE: 31st July 2025 TOPICS: 00:00- Intro & Private Credit Growth 02:00 - The Rise of Insurers in Private Credit 05:00 - Defining Private Credit 10:00 - Why Corporates Choose Private Credit 16:15 - Barbell Portfolios & Fixed Income Trends 21:00 - Tech and Access: Innovating Private Credit 26:00 - Assessing Risks in Private Credit 33:00 - Returns, Benchmarks & Market Cycles 38:00 - Blurring Lines: Private Credit vs. Private Equity 41:00 - Regulation & Capital Recalibration 44:00 - Industry Insights & Professional Perspectives 46:30 - Summary & Reflections SPONSORS: - Schroders is a global investment and wealth manager, with a purpose to provide excellent investment performance to clients, through active investment management. Find out more: https://www.schroders.com/en/global/individual/ - IFM Investors are a global institutional asset manager whose purpose is to invest, protect and grow the long term retirement savings of working people. They manage investments across infrastructure, debt, listed equities and private equity assets. Find out more: https://ifminvestors.com/en-gb/ - The World Gold Council is membership organisation that champions the role gold plays as a strategic asset, shaping the future of a responsible and accessible gold supply chain. Their team of experts builds understanding of the use case and possibilities of gold through trusted research, analysis, commentary, and insights. Find out more: https://www.gold.org/ - LSEG is a leading global financial infrastructure and data provider, which plays a vital social and economic role in the world's financial system. Backed by three centuries of experience, they help 40,000+ customers in 170 countries fund innovation, manage risk & create jobs. Learn more: https://www.lseg.com/en STAY UP TO DATE ✅ Newsletter: https://www.moneymazepodcast.com/subscribe ✅ LinkedIn: https://uk.linkedin.com/company/the-money-maze-podcast ✅ X/Twitter: https://twitter.com/podcast_maze LISTEN: 🎧 Apple Podcasts: https://podcasts.apple.com/gb/podcast/the-money-maze-podcast/id1504477769 🎧 Spotify: https://open.spotify.com/show/0uT0iw8BkDIvFH12Z3GJKR DISCLAIMER All content on the Money Maze Podcast is for your general information and use only and is not intended to address your particular requirements. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions. Guests and presenters may have positions in any of the investments discussed. The Money Maze Podcast is funded by third party advertising, with all episodes editorial - and not commercial - in relation to all interview content discussed. Please note, Money Maze Curated Podcasts do not contain third party advertising, and are instead funded by the featured interviewee and/or their business (these episodes are commercial, as opposed to editorial features).