Joe Weisenthal

Maybe you have a lot of money that's locked up for a long time.

It's like, okay, you're willing to trade that away for some extra premium, et cetera.

What problem does private credit solve?

And from the issuer, yeah.

Let's do it.

What kind of fund is it when we're talking about it?

Tell us about the general, the mandate and the structure of the fund, and maybe who is like the sort of like the modal client for whom this would be a vehicle that they would put their money on.

Yeah, it's interesting to think about like,

I'm familiar to some extent.

I don't know the full history of like GE Capital, but I had certainly heard of it.

I knew that it became a big profit center for GE itself.

And it would make sense that a company like GE or GM even, but GE would have its own lending arm and then like do its own financing on the side.

But I never really thought of it as like private credit per se.

But it's interesting to hear that, yeah, like this was like an origin that a lot of the lending form types, et cetera, that were sort of emerged out of these practices in-house.

Then where did it go from there?

So you mentioned, OK, like real asset investing, maybe it's like aircraft lending or, you know, aircraft finance, et cetera.

How did it splinter off into all of these different fields and areas beyond just the sort of like the tangible goods financing?

So one thing that comes up regularly on the podcast is the sort of natural synergy between private credit and insurance.

And insurance companies, they have all these assets and they have this advantage that they know exactly when those assets will be withdrawn.

It'll probably be in like 40 years from now.