Phil Huber: The Case for Private Credit - [Making Markets, REPLAY]

Phil Huber: The Case for Private Credit - [Making Markets, REPLAY]

Author: Colossus | Investing & Business Podcasts February 28, 2025 Duration: 43:56
Making Markets
BusinessInvesting

Today we are replaying my conversation with Phil Huber, the Head of Portfolio Solutions at Cliffwater. The private credit market has exploded recently, with Assets under management reaching a staggering $1.2T last year. I’ve been a little skeptical of this asset class, so I asked Phil to come on and convince me otherwise. We talk about the demand side of the equation, whether we are in a bubble, downside protection, due diligence, volatility and more. Phil also covers his backstory and his unique role at Cliffwater. Please enjoy this discussion with Phil Huber.


For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE.

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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes

(00:00:00) Welcome to Making Markets

(00:01:04) Meet Phil Huber: Private Credit Expert

(00:01:39) Phil Huber's Career Journey

(00:05:34) The Evolution of Alternative Investments

(00:10:32) The Growth and Demand for Private Credit

(00:17:23) Private Credit Performance and Risks

(00:22:36) Due Diligence in Alternative Investments

(00:23:50) Emerging Trends in RIA Distribution

(00:24:28) The Role of Intellectual Honesty in Investment Decisions

(00:25:12) Understanding the Game of Access and Manager Selection

(00:26:47) Volatility Laundering in Private Assets

(00:28:47) The Journey of Writing and Sharing Knowledge

(00:32:58) The Role and Responsibilities at Cliffwater

(00:34:40) Exploring Interval Funds and Private Credit

(00:40:43) The Importance of Secondaries in Private Equity

(00:42:50) Current Sentiment in Private Credit

(00:43:33) Conclusion and Resources

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Eric Golden hosts Making Markets, a podcast that digs into the often unseen mechanics and human behaviors driving how value is assigned and traded. Rather than just analyzing charts or headlines, conversations focus on the underlying architecture-the rules, relationships, and psychology-that defines how any marketplace functions. This approach means that one episode might dissect the familiar terrain of bonds or equities, while the next ventures into the specialized worlds of fine art, cryptocurrency, or even vineyard acquisitions. The common thread is a curiosity about the actual transactions and the people who facilitate them, providing a tangible sense of what occurs when assets change hands. By speaking with practitioners and experts each week, the show demystifies the complex systems that form the backbone of global commerce, offering listeners a clearer picture of economic forces at work. As part of the Colossus network of investing and business podcasts, Making Markets builds a comprehensive library of knowledge, turning abstract concepts into accessible narratives. It’s for anyone who has ever wondered about the real-world machinery operating behind the curtain of daily financial news.
Author: Language: English Episodes: 100

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