86. Private Credit 101: Asset-Based Lending Feat. Keri Findley, Founder and CEO of Tacora Capital
Jul 20, 2024
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Join Keri Findley, CEO of Tacora Capital, as she discusses Securitized Products, private credit investing, career transitions, and personal challenges in finance. Explore the evolution of structured credit, starting a firm in private credit, prenups in carry agreements, and recruitment criteria in finance. Delve into blending finance skills with entrepreneurship, emphasizing hard work, ethics, and integrity in business.
Private Credit offers lucrative investment opportunities in securitized products like CDOs and asset-backed lending.
Carrie Findley's journey from research at Morgan Stanley to founding Takora Capital showcases success in private credit.
Empowering women in finance, creating an inclusive environment, and supporting young women are important initiatives.
Deep dives
Overview of Public Investment Platform
Public.com offers a simplified investing experience, combining various investment options like stocks, bonds, options, and crypto in one easy-to-navigate platform. Users can earn an industry leading 5.1% APY on cash in their high yield cash account. The platform is trusted by millions of investors and has received positive ratings from NerdWallet, emphasizing its user-friendly investing features. Public Investing aims to provide a comprehensive investing solution, streamlining investment processes for users.
Exploring Private Credit and Securitized Products
The podcast delves into the often requested topic of private credit, focusing on various aspects like securitized products, specifically CDOs and asset-backed lending. The conversation sheds light on the complexity and relevance of structured products like CDOs in the finance industry despite their past negative associations post the 2008 financial crisis. Emphasizing the lucrative potential of such investments, the episode highlights the intricate nature and necessity of securitized products in modern finance.
Founder's Journey in Private Capital Investment
The podcast features Carrie Findley, the founder and CEO of Takora Capital, a private capital investment firm. Carrie's extensive background in research and sales trading, particularly in structured credit products, offers valuable insights into the private credit sector. Her journey from working at renowned hedge funds to founding her own firm showcases her meteoric rise and success in the finance industry, providing guidance on breaking into private credit and navigating the complexities of structured products.
Empowering Women in Finance
Carrie discusses the importance of empowering women in finance and creating opportunities for them to excel in the industry. Through her personal experiences and observations, she highlights the challenges and biases faced by women in finance, emphasizing the need for a supportive and inclusive environment. Carrie encourages grassroots efforts to mentor and support young women in finance, fostering a culture of equality and respect within the industry.
Path to Success in the Finance Industry
The episode emphasizes the diversity of paths to success in the finance industry, showcasing unconventional routes like starting a fund at a young age without traditional banking experience. By sharing success stories of individuals like James Sagan, who established a fund in the private credit niche, the podcast highlights the value of hard work, integrity, and perseverance in achieving financial success. The discussion underscores the importance of doing the right thing, prioritizing ethics, and creating opportunities for growth and advancement in finance.
Future Growth and Investment Strategies
Carrie reveals a strategic approach to growth and investment at Tokora Capital, focusing on high returns and personalized investing strategies that prioritize quality over quantity. By opting for a smaller fund size and specialized investment focus, Tokora aims to maximize returns and provide unique investment opportunities that larger funds may overlook. The emphasis on avoiding asset under management (AUM) growth in favor of superior returns reflects a commitment to delivering value to investors and pursuing sustainable long-term growth.
We are kicking off our multi-part foray into the world of Private Credit --- arguably the most talked-about investment vertical of 2024 --- with brilliant and hilarious Keri Findley, founder and CEO of Tacora Capital. If you're interested in learning about Securitized Products, prestigious exit opportunities from the Sales, Trading, & Research division of an Investment Bank, or the career path towards landing a job in Private Credit, this episode is a MUST LISTEN.
Keri is our first guest who has a background in Securitized Products, and she has a superpower of being able to explain complex concepts in a simple way. Keri walks us through her early career in ABS CDO research at Morgan Stanley, her quick exit to the buyside --- where she was a Portfolio Manager at Third Point in her mid-20s (!!) --- and the journey of starting her own Private Capital Firm.
With Keri, we also explore the themes of how blurred the lines can be between our personal and professional lives on Wall Street. Her candid discussion of what she did to fit in early on in her career, how she handles gossip and negativity, and her decision to have her employees sign prenups on their carry illuminates the complexities of being a senior female investor in today's world.
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Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice.
Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS... See full disclos...
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