Making Markets

Phil Huber: The Case for Private Credit - [Making Markets, EP.36]

Jul 5, 2024

Guest Phil Huber, Head of Portfolio Solutions at Cliffwater, discusses the booming private credit market, covering topics like downside protection, due diligence, demand, and volatility. He also shares insights on his career journey and role at Cliffwater.

43:56

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Episode guests

Phil Huber

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Quick takeaways

Private credit market growth has reached $1.2T, emphasizing its significant expansion and relevance in the financial industry.

Phil Huber's career journey showcases his transition from a wealth management background to a CIO role, emphasizing the evolving landscape of alternative investments.

Cliffwater's approach to private credit involves structured diversification with co-investments to manage downside risks and meet the demand in the private equity buyout industry.

Deep dives

Overview of Markets Explored in Podcast

The podcast delves into various markets, shedding light on transactions across sectors like mainstream stock markets, vineyards, antique art, and cryptocurrencies. Experts' insights unveil how these transactions impact the economy.

Intro

6min

Evolution of Alternative Investments in Wealth Management

5min

Private Credit Demand and Investment Insights

22min

The Role of the Head of Portfolio Solutions at Cliffwater and Managing Interval Funds in Wealth Management

4min

Exploring Corporate Lending and Diversification Strategy in Private Credit

2min

Exploring Private Credit and Evergreen PE Funds

5min

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 $1.2T last year. I’ve been a little skeptical of this asset class, so 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 backstory and his unique role at Cliffwater. Please enjoy this conversation with Phil Huber.

For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE.

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Show Notes

(00:00:00) Welcome to Making Markets

(00:01:07) Transition from RIA to Buy Side

(00:02:13) Career Journey and Passion for Alternatives

(00:04:28) Understanding the Role of a CIO

(00:06:55) Evolution of Alternatives in Wealth Management

(00:08:23) Phases of Alternative Investments

(00:10:53) Growth and Demand for Private Credit

(00:15:48) Private Credit Performance and Risks

(00:28:08) Writing and Sharing Knowledge

(00:32:23) Role at Cliffwater and Fund Management

(00:40:07) Phil on The State of the Public and Private Credit Market

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Making Markets

Phil Huber: The Case for Private Credit - [Making Markets, EP.36]

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Overview of Markets Explored in Podcast

Phil Huber's Transition from RIA to Buy-Side

Cliffwater's Strategy in Managing Funds

Private Credit Trends and Demand

Assessing Private Equity in Evergreen Structures

Remember Everything You Learn from Podcasts