Transcript
Introduction
Eric
My guest this week is Phil Huber, the Head of Portfolio Solutions at Cliffwater. The private credit market has exploded recently with assets under management reaching a staggering $1.2 trillion last year.
I've been a little skeptical of this asset class. I asked Phil to come on and convince me otherwise. We talk about the demand side of the equation, whether we are in a bubble, downside protection, due diligence, volatility and more. Phil also covers his back story in his unique role at Cliffwater. Please enjoy this conversation with Phil Huber.
Phil's Backstory
Eric
Phil, I'm excited to have you on here. You're a friend I met over the Internet in that Capital Camp. You have a lot of people that follow you on Twitter. I thought a fun place to start would be the transition from RIA to the buy side. Coming from the buy side, I saw lots of people eventually move to RIAs, financial wealth distribution. I do always see it the other way. Is it common for advisers to join the buy side? And what made you make that switch?