The Credit Clubhouse Podcast | The Merging of Public & Private Markets

In this episode of The Credit Clubhouse, host Todd Anderson welcomes Brad Foster, Head of Fixed Income and Private Markets at Bloomberg. They delve into the evolving landscape of public and private markets, exploring how investment-grade borrowers are increasingly turning to non-bank capital. Brad discusses the factors driving this convergence, including speed, flexibility, and confidentiality in capital raising. They also examine the role of private direct lending and the growing interest from limited partners (LPs) in this asset class.

The discussion highlights how Bloomberg is bridging these worlds through data and technology that enhances connectivity and transparency, while balancing the confidentiality that private markets require.

With insights into market trends and the potential for secondary markets in private credit, this episode is a must-listen for anyone in the financial services sector looking to stay ahead of the curve. Tune in for an informative conversation that will deepen your understanding of the changing dynamics in credit markets.

>> Listen or watch the full interview on: Spotify, Apple, Amazon Music or YouTube.

Episode Chapters

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