Cloud 9fin

No one likes that feeling of being a little too thick in the middle. But finding the right balance of strength and cushion is no easy task. We’re talking about the middle office here, of course.The middle office may not always be in the spotlight, but when loan data goes awry it’s the team that keeps the gears turning and numbers in check. In this episode, head of podcasts Chase Collum chats with Jared Vest, global co-head of middle office solutions at FIS, to break down the middle office's essential roles, risks, and evolving responsibilities. They explore how accurate data and strong operational support are critical to navigate today’s fast-paced loan market.This episode was produced in partnership with FIS as part of a three-part series diving into the challenges facing middle office practitioners and users of global loan data sets.Have any feedback for us? Send us a note at podcast@9fin.com.

Steven Hunter, CEO of 9fin, and Sujeet Indap, Wall Street editor at the Financial Times, delve into the profound implications of AI on debt markets. They discuss how AI enhances efficiency in credit investing but also acknowledges its limitations and the ongoing need for human analysts. The conversation highlights AI's transformative role in drafting legal documents and the varying rates of AI adoption worldwide. They explore the balance between technology and essential interpersonal skills in finance careers, reflecting on the challenges and opportunities ahead.

John Smullen, a product manager at FIS with expertise in loan data technology, shares fascinating insights into the world of loan data management. He discusses the surprising persistence of fax machines in 2025 and the crucial trends shaping the credit markets. The conversation dives into the growing importance of AI in transforming loan data processing and the need for standardization to improve efficiency and accuracy. Smullen highlights how firms are outsourcing data management to address transparency and operational challenges in private credit.

Scott Greenberg, global chair of Gibson Dunn’s restructuring group, dives deep into the world of liability management and cooperation agreements. He explains how cooperation agreements have evolved to become standard in U.S. deals and their growing presence in European markets. Greenberg highlights the shift of CLO managers from passive roles to proactive players in managing distressed assets. The conversation also touches on negotiating dynamics, antitrust considerations, and the necessity for collaboration among lenders to navigate the competitive financial landscape.

Uncover the intriguing connections between media giants X, Snap, and Getty Images as they navigate debt and advertising challenges. Discover how Musk influenced Twitter's financial recovery post-acquisition and learn about Snap's innovative strategies to thrive in social media. The discussion also delves into AI's impact on stock photography, highlighting the merger dynamics at Getty. Tune in for a fresh perspective on the future of media amid rapid technological advancements and shifting investor sentiments.

The conversation dives into the rise of private credit continuation vehicles, emphasizing their appeal in today's M&A landscape. It touches on BlackRock's substantial launch and the expectations for growth in 2025. However, challenges abound, including liquidity issues in a high interest rate environment and difficulties attracting limited partners. The discussion also tackles the dynamics of selling performing loans at discounts and the critical role of relationships in navigating asset transitions.

Celeste Tamers, a senior reporter at Nightfin specializing in SRT, and Owen Sanderson, a securitization expert, dive into the intricate world of Significant Risk Transfer. They discuss the evolving regulatory landscape, highlighting how banks manage credit risks while navigating challenges. The duo explores how private credit firms are rising in influence, the implications of SRT leverage on market dynamics, and the historical context shaping these transformations. Their insights reveal the delicate balance between financial opportunities and systemic stability.

Jon Henes, founder of C Street Advisory Group, and George Klidonas, restructuring partner at Latham & Watkins, dive into the dynamic world of liability management. They discuss the transformative Better Health transaction and how it shapes future leverage market trends. The conversation highlights the evolution of capital structures and the vital role of strategic communication amid financial restructuring. The duo also explores the intricacies of navigating Chapter 11 amidst economic uncertainties, shedding light on the necessity for clear communication in complex situations.

Publicly traded leveraged debt issuers are facing a collective maturity wall of $219 billion in the coming years. But unlike the Chiefs' offensive line in the Super Bowl, credit market watchers aren't expecting that wall to collapse.In this episode of Cloud 9fin, US managing editor Bill Weisbrod sits down with credit analyst Ben Dickerman and leveraged finance reporter Dan Mika about their recent piece looking at how the 2026-27 maturity wall in the US is shaping up.Among the highlights: how issuers are hanging on to cheap debt costs, how a leveraged finance market starved for new-money deals is giving BB-rated companies plenty of time to refinance, the uncertainties surrounding Trump administration’s economic policies, and how this story was powered by Dan’s love of drum and bass music.As always, if you have any feedback for us, send us a note at podcast@9fin.com

With Super Bowl Sunday upon us, much like over a third of the US, we thought we’d focus on sports.Private credit has been circling sports for some time as an investment opportunity. Many regulatory changes in the past year and an increasing number of emerging sports leagues have brought it back into view to begin this year.In this episode of Cloud 9fin, senior reporter Peter Benson sits down with Aaron Kless, managing partner and CIO at Andalusian Credit Partners, to discuss all things private credit and sports.The discussion topics include the institutionalization of the sports market, how credit works with sports franchises and other areas of the sporting world that are ripe for credit investment.As always, if you have any feedback for us, send us a note at podcast@9fin.com