Transcript
Introduction
Matt
Welcome back to Business Breakdowns. Matt Reustle here with a special two-part episode today on private credit. In 2023, the global private credit market topped $2.1 trillion in assets and committed capital. And for a market that really emerged in the '90s, that growth is enough to warrant the attention that private credit receives.
But rather than having the blanket statements like private credit is an emerging bubble, we wanted to explore the various segments of private credit. Ask simple questions like, where is this growth coming from? Take a closer look at the supply and demand, and capture some of the nuance that is so important to any of these conversations and these looks at these emerging markets.
To start, we use the lens of a successful fund manager in the space. Our first guest, Armen Panossian, is Co-CEO of Oaktree. And beyond Howard Marks' famous memos, Oaktree is a $192 billion asset manager known for its long history and credit. Armen leads the firm's performing credit business that spans liquid and private markets, which we will be focusing on today.