Bloomberg Talks JPMorgan Asset Management CEO George Gatch Talks Public Versus Private Markets
Oct 1, 2025
Discover the intriguing insights of JPMorgan Asset Management's CEO as he navigates the merging lanes of public and private markets. He explains how much private credit should find its way into average portfolios, emphasizing the role of liquidity and risk tolerance. The discussion shifts to public market advantages, revealing how innovation in income strategies can transform investment approaches. Plus, will private markets evolve to enhance transparency and liquidity? Tune in for a thought-provoking exploration of today's financial landscape.
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Public-Private Markets Converge
- The lines between public and private markets are blurring as investors and issuers move between syndicated public bonds and private credit deals.
- Combining public-market liquidity and private-market diversification can benefit investors if they manage private-market liquidity carefully.
Match Private Credit To Liquidity Needs
- Weigh private-credit allocations against each investor's liquidity needs, horizon, and risk tolerance rather than using a fixed rule.
- Treat daily-valued vehicles cautiously when they hold private securities because redemptions create liquidity mismatch risks.
Public Markets Still Competitive
- Public markets still offer strong advantages like liquidity and continued innovation, including derivative income strategies.
- Investors should scrutinize disclosures, transparency, and fees when evaluating private markets for diversification.