The Fort
#318 - Jillian Murrish - Co-Founder @ Pier Asset Management - Speciality Finance Makes The World Go Round
Nov 2, 2023
Jillian Murrish, Co-founder and CEO of Pier Asset Management, talks about senior credit facilities, litigation finance, underwriting risk, consumer loan defaults, and why private credit firms should not be regulated like banks.
01:10:45
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Quick takeaways
- Regulation should differentiate between banks and specialty finance lenders to account for their unique requirements and risks.
- The career journey of the speaker highlights the transition from entrepreneurship to investment banking and eventually founding Peer Asset Management.
Deep dives
Importance of Regulation for Specialty Finance and Private Credit Lenders
Regulation plays a crucial role in the financial industry, but it is essential to differentiate between banks and specialty finance/private credit lenders. While regulation is necessary to protect depositor capital in banks, it can hinder the ability of banks to adequately serve small businesses and consumers. Specialty finance and private credit lenders, on the other hand, operate with a higher cost of capital but can provide higher yields to clients due to the higher risk associated with their investments. The regulatory environment for banks differs significantly from that of specialty finance lenders, acknowledging the unique requirements and risks involved in their respective operations.
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