Private credit is booming, here’s what investors need to know
Private credit has nearly tripled in 10 years, but most investors still don’t really know what it is or why it exists. In this episode, we sit down with Nehemiah Richardson (CEO & Managing Director of TermPlus) to break down why private credit has grown so fast, where the risks actually sit, and what investors should look for if they’re considering the space.
In this episode:
0:47 Private credit 101: what it is, why it’s grown, and why “growth ≠ risk”
3:44 Why banks pulled back after the GFC (and how private credit filled the gap)
7:39 Australia vs US/Europe: why private credit looks different here
10:57 Capital stack explained: senior secured vs mezzanine vs equity (and why it matters)
17:19 “Quality is slipping?” How to assess managers + red flags
23:24 The next decade: consolidation, scale, and private credit becoming “normal”
29:50 How TermPlus works: terms, floating rate, diversification, and portfolio construction
