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Unhedged

Uncomfortable moments in private credit

3/12/202622 min

There has been a steady trickle of bad news in private credit, and investors have been having a hard time getting their money out of funds. Today on the show, Katie Martin and Rob Armstrong are joined by the FT’s US private equity and deals editor Antoine Gara. The three of them try to figure out if a small financial crisis is brewing. Also they go long 10-year Treasuries, long Ukraine ETFs and long the New York Jets.

For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.

You can email Robert Armstrong and Katie Martin at unhedged@ft.com.

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Clips

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Retail Access Was A Mistake
2008 Echoes, Key Difference
Why Systemic Risk Is Lower
Perverse Incentives In Distribution
Skin In The Game Moves Markets
Innovation’s Dark Side
What Private Credit Really Is

Transcript preview

First 90 seconds

  1. Katie Martin· Host0:00

    [on hold music] Pushkin. Here at Unhedged, your friendly markets podcast for normal people, we excel at one important thing, giving you extra stuff to worry about. Today, drum roll, private credit. Seriously, if we weren't all focused on the Strait of Hormuz, we would be laser focused on the constant trickle of grim headlines about this pocket of finance. It was the next big thing once, a revolution linking up companies with the money that they need to succeed. Now, finance people are worried that it's obscuring a multitude of sins, lots of funny lending going belly up. Today on the show, is this the next financial crisis in the making or a storm in a teacup? How bad could it get? This is Unhedged, the markets and finance podcast from the Financial Times and Pushkin. I'm Katie Martin, a markets columnist in the bunker of FT Towers in London, and I'm joined by a dynamic duo in New York City, Robert Armstrong from the ever excellent Unhedged newsletter. I'm biased because I write for it, but whatever. Rob, say hello.

  2. Robert Armstrong· Host1:15

    Now, Katie, first of all, hello. Second of all- Yes ... you said this was a podcast for normal people. Do you have any actual evidence- [laughs] ... that normal people listen to this podcast in any sense of the word normal?

  3. Katie Martin· Host1:28

    I do, actually.

  4. Robert Armstrong· Host1:29

    You do?

  5. Katie Martin· Host1:29

    I do.

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