The Doom Porn of Private Credit

Some of your more recent vintages of private credit are could look very ugly. There will be some carnage in recent vintage years that might give private credit a bad name i am telling my clients look for new vintages okay because they're the ones that are stepping in and getting 14 15 percent yield the day the deal closes. What do you think about the insurance and and the pension industries doing the same this is i mean that's it this seems to me like they're the solution to their problem micro.