Private Debt: Past, Present & Future
Streaming Income - A Podcast from Barings
What Are Some of the Mistakes People Make When Evaluating Managers?
The first step is always this whole asset allocation process, which is how much risk do you want to take, how much return do you need? And that's the first piece of the pie that you need to really think through before you go into the manager selection mode. I see allocators who I think two things. One is they look for very idiosyncratic strategies or things that are maybe not correlated.
In the first episode of our new Investing Together series, Mercer's Global Head of Private Debt, David Scopelliti joins Barings' David Mihalick to discuss the evolution of private credit, including how this market developed, what conditions are like today, and where we go next.
Episode Segments:
(02:00) – David’s career path and role at Mercer
(05:23) – How private debt markets have evolved over 30+ years
(07:59) – The “five P’s” of manager selection
(10:23) – Achieving diversification in private credit
(12:15) – The art and science of valuations in private markets
(16:54) – How to think about liquidity and fund structure
(19:31) – How much private credit can grow from here
(22:13) – Private credit in North America, Europe, and Asia-Pacific
(27:39) – The interplay between private debt managers and banks
(31:18) – The outlook for private debt markets
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