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The podcast discusses areas of opportunity within asset-backed lending, dry powder in the market vs. deal quality in private credit, managing the entire portfolio and deciding on investment opportunities, challenges posed by high interest rates and increased banking regulations, concerns about companies running out of cash and competition in the market, and various bankruptcy and restructuring cases.
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Quick takeaways
- Private credit managers should focus on diverse exit strategies to mitigate the risk of companies running out of cash in the current inflationary environment.
- In order to maintain deal quality, private credit managers must prioritize disciplined investments and consider fundamentals, especially in volatile industries like commodity companies.
Deep dives
Capital Solutions team at Soundpoint Capital Management
Morgan Dean, an associate portfolio manager on the Capital Solutions team at Soundpoint Capital Management, discusses the team's focus on providing liquidity solutions to stressed companies. They primarily target asset-backed loans for companies experiencing transitional periods, with loan sizes ranging from $100 to $600 million. They often lend against market receivables, particularly from companies with resilient cash generation, such as Walmart. The uncertain economic and credit environment, along with increasing banking regulations, make projecting cash flows more challenging.
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Listen to the best highlights from the podcasts you love and dive into the full episode