Ep. 132: Randy Schwimmer on Private Credit, Fed Shocks and Recession Risks  

Randy is co-head and oversees senior lending origination and capital markets for Churchill Asset Management, which has $40bn of committed capital. Randy is widely credited with developing loan syndications for middle market companies. Prior to joining the firm, Randy served as a senior managing director and head of capital markets and indirect origination at Churchill Financial. Before that, he worked as managing director and head of leveraged finance syndication for BNP Paribas. He spent 15 years at JP Morgan Chase in corporate banking and loan syndications, where he originated, structured and syndicated leveraged loans. In this podcast we discuss:

1. Evolution of private credit markets
2. Comparison to high-yield bonds and syndicated loans
3. Why banks want to off-load loans
4. Types of loans that make up private credit
5. How buyers of private credit monitor loans
6. Typical size of loans
7. How to protect against recession risks
8. How Fed hikes have affected private credit
9. Role of private equity
10. Are private markets a bubble?
11. Books that Randy mentioned: The Waste Land (TS Eliot), Eliot After The Waste Land (Crawford) , O Jerusalem! (Collins)

You can follow Randy on  LinkedIn here and his Lead Left site is here. If you would like to be added to his mailing list, you can email us here.

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(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)