The Hurdle Rate Podcast Episode 42 - Pensions, Private Equity & Digital Credit
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Jan 6, 2026 The hosts dive into a bullish outlook for 2026, focusing on a major push for digital credit and the resilience of perpetual preferred equity products amidst market fluctuations. They emphasize the significance of track records for institutional investments and discuss the challenges facing pension funds in adapting to new assets. With a light-hearted touch, they link Bitcoin to geopolitical maneuvers, highlighting the potential for new financial products to empower individuals, especially in a world influenced by AI growth and funding gaps.
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Institutional Liquidity Demonstrated
- Strategy demonstrated extreme liquidity by raising large capital and paying preferred dividends in just a few trading days. This shows institutional-grade execution and a growing snowball effect into 2026.
2026 Is The Institutional Digital Credit Year
- Issuers are positioning for a massive 2026 push into digital credit and institutional sales. Retail already understands the product; institutions are the next frontier and require a different story and reserves.
Year Zero Built Early Track Records
- 2025 was 'year zero' for digital credit and many issues were priced with higher Bitcoin collateral. Track records from Q4 show issuers bought and held Bitcoin rather than selling into stress.