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The Credit Clubhouse
Todd Anderson, Head of Content & programming, DealCatalyst
45 episodes
6 days ago
Welcome to The Credit Clubhouse — where the world of structured credit, direct lending, asset-based finance, and fund finance meets sharp insights and even sharper wit. Hosted by Todd Anderson, DealCatalyst’s Head of Content, this podcast dives deep into the complex world of alternative finance with a dash of humor and a lot of know-how. Whether you're a seasoned professional or just looking to sound smarter at your next industry event, Todd and his guests will break down the jargon and unpack the trends shaping the future of credit markets — one episode at a time. Grab your headphones; the deals are in the details!
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Investing
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All content for The Credit Clubhouse is the property of Todd Anderson, Head of Content & programming, DealCatalyst and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
Welcome to The Credit Clubhouse — where the world of structured credit, direct lending, asset-based finance, and fund finance meets sharp insights and even sharper wit. Hosted by Todd Anderson, DealCatalyst’s Head of Content, this podcast dives deep into the complex world of alternative finance with a dash of humor and a lot of know-how. Whether you're a seasoned professional or just looking to sound smarter at your next industry event, Todd and his guests will break down the jargon and unpack the trends shaping the future of credit markets — one episode at a time. Grab your headphones; the deals are in the details!
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Investing
Business
Episodes (20/45)
The Credit Clubhouse
E44 - The GP Financing Landscape with Greg Hardiman of Crescent Capital

Greg Hardiman, GP-LP Solutions, Crescent Capital - https://www.linkedin.com/in/gregory-hardiman/


Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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1 week ago
32 minutes 44 seconds

The Credit Clubhouse
E43 - Private Credit Fears Linger , Favorite Christmas Movies and College Football Playoff

Apollo's Private Credit: Fact vs. Fiction


Pension Slams Private Market Ratings After €1 Billion Loss


00:00 - Analyzing Apollo's Defense and Pension Fund Losses in Private Credit

06:22 - Counting Down the Best Holiday Films, From Classics to Modern Favorites

11:12 - Examining the NFL's Massive Ratings and Financial Impact on Sports

14:25 - The Playoff's Impact, Ratings Success, and Private Equity in College Sports

19:33 - Forecasting College Football Champions and Thanking Our Valued Listeners


Top 10 Christmas Movies

  • National Lampoon's Christmas Vacation (1989)
  • Home Alone (1990)
  • Elf (2003)
  • The Holiday (2006)
  • A Christmas Story (1983)
  • It's a Wonderful Life (1946)
  • Love Actually (2003)
  • How the Grinch Stole Christmas (1966/2000)
  • A Charlie Brown Christmas (1965)
  • The Polar Express (2004)

Honorable Mention

  • Rudolph the Red-Nosed Reindeer (1964)
  • Frosty the Snowman (1969)
  • Four Christmases (2008)


Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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2 weeks ago
23 minutes 16 seconds

The Credit Clubhouse
E42 - DealCatalyst’s ABF Capital Flows Survey

Download the Inaugural ABF Capital Flows Survey Report from DealCatalyst Intelligence.


00:00 - Welcome to the Clubhouse: Unpacking the ABF Capital Flows Survey

02:53 - Why Capital Flows to Larger ABF Asset Managers

05:42 - The Challenge of Direct LP Engagement for Borrowers

09:23 - Bridging the Gap: Banks, Borrowers, and Capital Mismatches

16:01 - Navigating Broad Asset Appetite and Market Discipline in ABF

22:08 - Exploring New Frontiers, LP Sophistication, and the Future of ABF


Ganesh Rajendra, Managing Partner, Integer Advisors - https://www.linkedin.com/in/ganesh-rajendra/


Rory Mepham, CEO, The Sancus Group - https://www.linkedin.com/in/rory-mepham-7ba52913/


Julian Schickel, Founding Partner, Avellinia Capital - https://www.linkedin.com/in/jschickel/


Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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3 weeks ago
35 minutes 21 seconds

The Credit Clubhouse
E41 - Private Credit Angst and ABF Momentum

00:00 - Welcome to the Clubhouse and Exclusive Conference Offer03:33 - Credit Fund Capital, Securitization, and LP Support in ABF07:21 - Upcoming DealCatalyst Events and ABF Survey Insights09:40 - Adding Sports Content and Community Engagement to the Show11:45 - Examining Mark Rowan's Four Myths About Private Credit18:09 - Stress Tests, Investor Confidence, and Market Momentum21:40 - Looking Ahead to 2026 and Final Conference Offer


Private-Credit Fears Are Based on Four Myths - https://www.bloomberg.com/opinion/articles/2025-12-03/private-credit-is-safe-and-makes-the-financial-system-stronger

Mubadala Backs Private Credit Bets After Plowing in $20 Billion - https://www.bloomberg.com/news/articles/2025-12-04/mubadala-backs-private-credit-bets-after-plowing-in-20-billion

Bank of England launches stress test of private equity and credit - https://www.reuters.com/sustainability/boards-policy-regulation/bank-england-launches-stress-test-private-equity-private-credit-industries-2025-12-04/


Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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4 weeks ago
21 minutes 52 seconds

The Credit Clubhouse
E40: Private Markets are Booming in Ireland with Kevin Canning, CEO, Quintas Capital

00:00 - Exploring the Booming Private Credit Market in Ireland

02:35 - Ireland's Shifting Landscape: Public Struggles, Private Boom

05:01 - Quintus Capital's Mid-Market Niche and Growth Strategy

09:46 - Navigating Deal Sourcing and PE Sponsors in Ireland

13:49 - International Expansion and Ireland's Macroeconomic Stability

18:46 - Assessing Risk, Identifying Growth Sectors, and ESG Trends

24:48 - AI's Impact, LP Misconceptions, and Irish Wealth Retention

30:39 - Ireland's Data Center Boom and Kevin Canning's Personal Side


Kevin Canning, CEO, Quintas Capital - https://www.linkedin.com/in/kevincanning1/


Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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1 month ago
37 minutes 10 seconds

The Credit Clubhouse
E39: The Merging of Public & Private Markets with Brad Foster at Bloomberg

00:00 - Exploring the Blurring Lines of Public and Private Markets


03:30 - Brad Foster's Role and the Language of Private Markets


06:48 - Understanding the Growth and Appeal of Private Direct Lending


09:27 - What Borrowers Value in Private Capital and the Investment Grade Shift


12:09 - LP Capital Allocation and Bloomberg's Technology in Private Markets


16:03 - Balancing Market Transparency, Confidentiality, and Retail Investor Access


20:55 - Addressing Market Fragmentation and the Future of Secondary Markets


25:51 - Personal Insights, Future Predictions, and Episode Conclusion


Brad Foster, Head of Fixed Income & Private Markets, Bloomberg - https://www.linkedin.com/in/brad-foster-437799ba/


Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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1 month ago
28 minutes 26 seconds

The Credit Clubhouse
E38: Beyond the Double Pledge: Setting a New Standard for Trust with Stuart Wall of Setpoint

This episode is brought to you in partnership with Setpoint, the operating system for capital markets.


01:15 - First Brands and Tricolor failures and what they reveal about the ABF market today


05:08 - Setpoint overview and solving the analog backend


07:03 - What is double pledging, and what happened with First Brands and Tricolor


08:57 - Information accessibility between public and private markets


12:15 - Launching Setpoint Pledge Check


14:48 - The importance of having an independent third party for verification of assets


17:22 - Can double pledging be eliminated?


20:28 - Solving the complex workflows in ABF and moving on from Excel


22:03 - How a private credit ecosystem can become healthy and transparent in the next five years


24:01 - Stuart's entrepreneurship journey and the joy in building new products


26:53 - Fun rapid fire questions and wrap up


Stuart Wall, CEO & Co-Founder, Setpoint - https://www.linkedin.com/in/stuartwall/


Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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1 month ago
29 minutes 54 seconds

The Credit Clubhouse
E37: Fund Finance as a Permanent Asset Class with Doug Cruikshank at Hark Capital

00:00 - The Rapid Growth of Fund Finance as a Permanent Asset Class


02:34 - From Niche Product to Permanent Asset Class: A Decade of Change


04:58 - Founding Hark Capital: Solving Post-GFC Equity Problems in the Lower Middle Market


08:06 - Navigating 'Bad Press': How NAV Lending Gained LP Acceptance and Clarity


12:15 - Excitement and Concerns: The Future Landscape of Fund Finance


16:33 - Exploring Underdeveloped Niches and Creative Structural Innovations in Fund Finance


22:45 - The Leap of Faith: Lessons Learned from an Entrepreneurial Journey


26:28 - From AI Poetry to Market Forecasts: Doug's Personal Reflections and 2024 Prediction


Doug Cruikshank, Managing Partner & Founder, Hark Capital - https://www.linkedin.com/in/doug-cruikshank-hark/


Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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1 month ago
33 minutes 8 seconds

The Credit Clubhouse
E36: The Future of College Football with Stewart Mandel of The Athletic

00:00 - Kicking off with Stewart Mandel and The Athletic's mission


02:18 - How NIL and transfers are reshaping college football


04:42 - The legal and financial ramifications of NIL beyond football


08:31 - The financial challenges and governance of college football


11:58 - The future: private equity and a college football super league


17:01 - Stewart Mandel's concerns and Congress's role in college sports


20:52 - Stewart Mandel's hobbies, books, and championship forecast


25:12 - Thank you and exclusive listener offer


Stewart Mandel, Editor-in-Chief of The Athletic's College Football Coverage - https://x.com/slmandel


Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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2 months ago
25 minutes 55 seconds

The Credit Clubhouse
E35: Fixed Income Investing - the Best of Times and the Worst of Times with Edwin Wilches at PGIM

00:00 - Navigating Macro Uncertainty in Fixed Income Investing

04:51 - Blurring Lines Between Public and Private Markets

10:41 - PGIM's Strategy for Differentiated Securitized Investing

16:27 - Evolving Investor Appetite and European Market Expansion

23:14 - Structural Shifts Driving Asset-Backed Finance Demand

27:49 - Evolving Ways Clients Consume Securitized Assets

32:09 - Should Retail Investors Access Private Credit Assets?

35:42 - Capital Concentration and Future Outperforming Sectors

41:25 - Personal Insights and Career Motivations with Edwin

45:04 - Edwin's Market Outlook and Episode Wrap-up


Edwin Wilches, CFA, Managing Director and Co-Head of Securitized Products, PGIM - https://www.linkedin.com/in/edwinwilches/


Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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2 months ago
48 minutes 25 seconds

The Credit Clubhouse
E34: The Evolution & Convergence of Structured and Asset Based Credit with Chris Hentemann at 400 Capital Management

00:00: Welcome, Guest, and Defining Asset-Backed Finance


04:13: How Credit Markets Evolved After the Financial Crisis


11:09: Inside 400 Capital Management's Specialized Credit Strategy


16:01: Driving Factors for Institutional Interest in Credit Markets


21:18: Achieving Identifiable Alpha Through Problem-Solving in Credit


24:48: Analyzing Distressed Situations and Market Corrections in Credit


31:47: Navigating Opportunities and Risks in Commercial Real Estate


40:06: Key Trends Shaping Structured Credit Investing's Future


43:43: Chris Hentemann's Hobbies, Books, and Client Connections


Chris Hentemann, Managing Partner & Chief Investment Officer, 400 Capital Management - https://www.linkedin.com/in/chris-hentemann/


Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/ 

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2 months ago
49 minutes 45 seconds

The Credit Clubhouse
The Credit Clubhouse - E33 - Capital and Excitement Flows to Dubai

00:00 - Discovering Dubai's Emergence as a Global Capital Hub

03:30 - How the Middle East is Rebalancing Global Capital Flows

06:31 - Rapid Rise of Sophisticated Middle East Investors

12:35 - The DIFC's Role in Shaping Regulatory Frameworks

17:02 - Anticipating Future Market Evolution and Final Reflections


Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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2 months ago
20 minutes 8 seconds

The Credit Clubhouse
E32: Fund Finance Shifts into High Gear with Richard Wheelahan of Fund Finance Partners

00:00 - Exploring Fund Finance's meteoric growth since 2007

03:13 - Unpacking Fund Finance growth drivers and media's misplaced focus

06:01 - Inside Fund Finance Partners and the NAV Lending Index's impact

10:47 - Bridging knowledge gaps for sponsors in fund finance

13:57 - The exciting evolution of Fund Finance and lending dynamics

18:34 - Navigating risk and structural innovation in Fund Finance

22:45 - Identifying underserved Fund Finance markets and policy gaps

26:54 - Richard Wheelahan's founder journey and personal reflections

33:51 - Thank you and Exclusive DealCatalyst Conference Offer


Richard Wheelahan, Managing Director and Co-Founder, Fund Finance Partners - https://www.linkedin.com/in/rwheelahan/

Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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3 months ago
34 minutes 51 seconds

The Credit Clubhouse
E31: Top Trends in ABF & The Ryder Cup Tees Off

01:25 - Analyzing the Ryder Cup: US Team's early deficit

05:02 - Data Centers and AI: the hottest trend in asset-based finance

09:18 - Structuring deals for insurance capital: opportunities and risks

13:35 - The power of private transactions: flexibility and control in deals

16:56 - Exploring new frontiers: fintech, art, HEI, and ABF market growth

25:08 - From Mets misery to NFL hopes: sports roundup

29:14 - Private Credit and Equity: sports as the next major asset class

32:03 - Get involved: share ideas and join DealCatalyst conferences


Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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3 months ago
34 minutes 30 seconds

The Credit Clubhouse
E30: Real Estate, Opportunistic Credit, & Private Credit Under One Roof with Len Tannenbaum, Founder, TCG
  • 00:00 - Exclusive DealCatalyst offer and guest introduction
  • 01:18 - From Wall Street analyst to TCG Founder
  • 06:30 - Real estate, opportunistic, and private credit under one roof
  • 10:59 - TCG's unique investor-friendly capital structure and approach
  • 13:41 - Navigating the private credit bubble for underserved markets
  • 19:22 - Current credit cycle and real estate market stress
  • 25:34 - Southern states growth and future office lending opportunities
  • 30:15 - Building relationships and exploring unconventional asset classes
  • 34:35 - Len's coaching role and TCG's family enterprise culture
  • 36:57 - Hobbies, book recommendations, and a bold market prediction
  • 42:10 - Thank you and final DealCatalyst Conference offer


Len Tannenbaum, Founder, TCG - https://www.linkedin.com/in/leonard-tannenbaum-a3b3561/

Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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3 months ago
42 minutes 52 seconds

The Credit Clubhouse
E29: Educating Specialty Lenders on Scalable Debt, with Rob McGregor of Coromandel Capital

00:00 - Understanding Coromandel's niche in the current market.

04:47 - Optimizing capital stacks and fintech's evolving role.

11:24 - Navigating chaos: Coromandel's founding story.

15:11 - Avoiding common pitfalls for early-stage venture-backed companies.

20:38 - Identifying credit gaps in small business and consumer lending.

25:52 - Educating LPs and the rise of co-investing in private credit.

31:50 - Leveraging technology and AI for scalable niche lending.

37:08 - Could AI disrupt relationship-based, smaller check lending?

39:47 - Where Coromandel sees the most compelling future opportunities.

43:43 - Rob's sports fandom and a surprising personal fact.

45:52 - A powerful book recommendation and the joy of entrepreneurship.

48:59 - A prediction for the next 12 months and podcast wrap-up.


Rob McGregor, Managing Partner, Investments, Coromandel Capital - https://www.linkedin.com/in/robertmcgregor/


Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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3 months ago
51 minutes 18 seconds

The Credit Clubhouse
E28 - Goal-Oriented solutions for LPs and GPs with Michael Hacker at Carlyle AlpInvest

Thanks for returning to The Credit Clubhouse, your one-stop shop for all things credit.

We have a special offer for our listeners. If you want to attend any of our conferences, we have a fantastic deal for you. Simply visit www.dealcatalyst.io, choose the event you want to attend and enter the promo code CREDIT when registering to receive a 10% discount on the ticket price.

Please remember to follow the show, rate us, and leave a review. Your feedback is invaluable to us and helps us improve the show.

Welcome back to our latest installment of The Credit Clubhouse, as always I am your host, Todd Anderson, Head of Content & Programming at DealCatalyst. Joining me today is Michael Hacker, Managing Director, Partner, and Global Head of Portfolio Finance at Carlyle AlpInvest.


Key topics covered:

  • Carlyle AlpInvest's solutions for investors
  • How the firm works with GPs to drive operational value in portfolio companies
  • Risk and evaluation of secondary and primary commitments
  • Managing liquidity in an uncertain macroeconomic environment
  • The key drivers behind the growth of portfolio finance
  • The evolution of co-investments
  • The most compelling opportunities in secondaries today
  • The growing opportunity in structured solutions
  • And much more...


Michael Hacker, Managing Director, Partner and Global Head of Portfolio Finance, Carlyle AlpInvest - https://www.linkedin.com/in/michaelhacker/

Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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4 months ago
48 minutes 6 seconds

The Credit Clubhouse
E27: Private Credit Keeps Rolling Amid Uncertainty with Michael Ewald from Bain Capital

Thanks for returning to The Credit Clubhouse, your one-stop shop for all things credit.

We have a special offer for our listeners. If you want to attend any of our conferences, we have a fantastic deal for you. Simply visit www.dealcatalyst.io, choose the event you want to attend and enter the promo code CREDIT when registering to receive a 10% discount on the ticket price.

Please remember to follow the show, rate us, and leave a review. Your feedback is invaluable to us and helps us improve the show.

Welcome back to our latest installment of The Credit Clubhouse, as always I am your host, Todd Anderson, Head of Content & Programming at DealCatalyst. Joining me today is Michael Ewald, Partner, Global Head of the Private Credit Group, Bain Capital.


Key topics covered:

  • The Impact of Volatility on the competitive dynamics of private credit.
  • Deal activity amid macro uncertainty.
  • The most resilient sectors in today's environment.
  • Assessing recession risk when underwriting new deals.
  • Sponsored vs. non-sponsored deal dynamic
  • The growth of private credit globally
  • Newer entrants to private credit and the impact on deal terms
  • Structural innovations
  • Balancing yield versus credit quality in today’s market?
  • Increasing demand for evergreen or open-ended private credit structures
  • Consolidation in private credit
  • Joint venture arrangements with banks
  • And much more...


Michael Ewald, Partner, Global Head of the Private Credit Group, Bain Capital - https://www.linkedin.com/in/michael-ewald-2617b98/

Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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4 months ago
38 minutes 44 seconds

The Credit Clubhouse
E26: The U.S. Lower Middle Market & Recession Resilient Underwriting with Natalie Garcia of Deerpath

Thanks for returning to The Credit Clubhouse, your one-stop shop for all things credit.

We have a special offer for our listeners. If you want to attend any of our conferences, we have a fantastic deal for you. Simply visit www.dealcatalyst.io, choose the event you want to attend and enter the promo code CREDIT when registering to receive a 10% discount on the ticket price.

Please remember to follow the show, rate us, and leave a review. Your feedback is invaluable to us and helps us improve the show.

Welcome back to our latest installment of The Credit Clubhouse, as always I am your host, Todd Anderson, Head of Content & Programming at DealCatalyst. Joining me today is Natalie Garcia, MD, Deerpath.


Key topics covered:

  • Macroeconomic conditions & underwriting
  • Finding the optimal balance between yield and protection.
  • The impact of potential rate cuts.
  • Loan demand & tighter credit conditions.
  • The most resilient & most vulnerable sectors in the lower middle market.
  • Why the lower middle market is so appealing.
  • Key trends in covenant structuring.
  • Delivering customized facilities tailored to sponsors and borrowers.
  • Monitoring portfolio companies post-close to identify early warning signals.
  • Preparing for recession scenarios & an uptick in M&A activity
  • AI’s potential impact on lower middle market lending.
  • And much more...


Natalie Garcia, MD, Deerpath - https://www.linkedin.com/in/natalie-garcia-1a455011/

Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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4 months ago
30 minutes 36 seconds

The Credit Clubhouse
E25: Sub-Line Finance 2.0 and Beyond with Neno Raic of NLC

Thanks for returning to The Credit Clubhouse, your one-stop shop for all things credit.

We have a special offer for our listeners. If you want to attend any of our conferences, we have a fantastic deal for you. Simply visit www.dealcatalyst.io, choose the event you want to attend and enter the promo code CREDIT when registering to receive a 10% discount on the ticket price.

Please remember to follow the show, rate us, and leave a review. Your feedback is invaluable to us and helps us improve the show.

Welcome back to our latest installment of The Credit Clubhouse, as always I am your host, Todd Anderson, Head of Content & Programming at DealCatalyst. Joining me today is Neno Raic, Partner at NLC.

Key topics covered:

  • How does sub-line financing 2.0 differ from 1.0?
  • The biggest drivers behind this evolution.
  • The adoption and growth of term loans?
  • The emergence of tranche B loans.
  • The growing influence of securitisation and structured finance.
  • Trends in GP behavior.
  • Bank/non-bank cooperation and competition.
  • NLC's NAV lending launch.
  • Closing the LP education gap.
  • NLC’s U.S. expansion and having boots on the ground
  • And much more...


Neno Raic, Managing Partner, NLC - https://www.linkedin.com/in/neno-raic-57a85a73/

Todd Anderson, Head of Content & Programming, DealCatalyst - https://www.linkedin.com/in/toddanderson19/

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4 months ago
38 minutes 56 seconds

The Credit Clubhouse
Welcome to The Credit Clubhouse — where the world of structured credit, direct lending, asset-based finance, and fund finance meets sharp insights and even sharper wit. Hosted by Todd Anderson, DealCatalyst’s Head of Content, this podcast dives deep into the complex world of alternative finance with a dash of humor and a lot of know-how. Whether you're a seasoned professional or just looking to sound smarter at your next industry event, Todd and his guests will break down the jargon and unpack the trends shaping the future of credit markets — one episode at a time. Grab your headphones; the deals are in the details!