Get the download on debt markets with Cloud 9fin, where our team gives you the inside scoop on leveraged finance, private credit, corporate credit, restructurin...
People love to talk about the battle between banks and private credit firms in leveraged debt markets. And at a high level, it’s true that the dealflow has bounced back and forth between the two over recent years — but markets are a lot more complex than a game of table tennis.In this episode of Cloud 9fin, Synne Johnsson sits down with Soren Christensen, partner and head of capital markets at Cinven, and Amit Bahri, co-head of European direct lending at Goldman Sachs, to break down how private credit’s role has evolved over the years.Among the highlights: how sponsors have adapted to embrace private credit, what the return of the BSL market means for direct lender strategies, the attraction of junior PIKs, and predictions for 2025.As always, if you have any feedback for us, send us a note at [email protected].
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39:54
How are the Southern California wildfires impacting LevFin?
The full extent of the damage from this season’s California wildfires is yet to be determined, but one thing that is certain is that some leveraged credits are starting to feel the heat.In this week’s episode of Cloud 9fin, US managing editor Bill Weisbrod and deputy leveraged finance editor Sasha Padbidri survey the extent of the damage and discuss which industries are among the most impacted.Find Sasha’s latest report about the wildfires’ impact on leveraged credits here. If you have any feedback or want to get in touch, send us a note at [email protected]. Thanks for listening!
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6:26
How many private credit managers does an LP really need?
After years of growth and positive sentiment, 2024 saw private credit’s smallest fundraising haul since 2019. But the year-on-year drop in capital raised was far less significant than the drop in the number of funds that were closed.In this week’s episode of Cloud 9fin, US private credit editor David Brooke and reporter Anna Russi discuss the latest results in private credit fundraising and how LPs are consolidating around their favorite firms. The conversation walks through how investors are feeling about the asset class and whether the incoming Trump administration can help or hinder funds on the road next year. Read Anna and David's article diving into these trends here.Have any questions or feedback for us? Want to join us on the podcast? Send a note to [email protected] to get in touch. Thanks for listening!
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8:07
Introducing Jane's LME addiction: The bookends of the Serta era
For this week’s Cloud 9fin episode, we’re launching a new monthly recurring series: Jane’s LME Addiction, in which distressed legal analyst Jane Komsky dives into the latest news in liability management. Joined by 9fin global head of distressed and restructuring Max Frumes and 9fin head of legal James Wallick, Jane walks through the landmark decision out of the Fifth Circuit Court of Appeals in the Serta Simmons case and what it means for LMEs going forward.Find all our coverage on Serta at 9fin.com, including our latest stories on the contours of potential uptiering transactions in 2025 and the evolution from Serta blockers to “Fifth Circuit blockers.”If you have any feedback for us, send us a note at [email protected]. Thanks for listening.
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17:28
More tailwinds than headwinds for CLOs in 2025
A record breaking year comes to an end. What could possibly come next? How about another?In this week's episode of Cloud 9fin, Tanvi Gupta, global head of CLOs at 9fin, talks with Pratik Gupta, head of CLO and RMBS research at Bank of America, to discuss the outlook for 2025. They talk about ETFs, performance across the CLO capital structure, LMEs, co-op agreements, HY bond buckets and why 2025 might match the record breaking levels of issuance we've seen in 2024.Have any feedback on the episode? Send us a note at [email protected]. Thanks for listening.
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