Vlad Barbalat

speaker

638 appearances 1 recordings 1 series first heard Jun 2026 last heard 23 Jun

Vlad Barbalat’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.

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Invest Like the Best with Patrick O'Shaughnessy · Vlad Barbalat - Investing $120 Billion in Permanent Capital - [Invest Like the Best, EP.479] · 23 Jun 2026 podcast

And we need to be in position to always have the right balance of liquidity versus long-term investments that we make that allow us to do all that.

So I'd say liquidity management is actually an incredibly important component of how that broader portfolio gets constructed.

We know that credit is going to be a large component of our business, and we want to make sure anything we enter, we have the right level of expertise.

So for example, things we have not really done.

We have not expanded much into the European market, largely because we don't think we have the right relationships in place there, the right expertise.

And even though that particular region is more interesting than it has been in the past, given all the geopolitical dynamics, it is not a place where we are spending our time.

Despite the size of the book, despite the growth, we continue to identify opportunities in the US that we feel a lot more comfortable with.

That's one way to think about it.

Largely US-focused asset classes, different parts of the capital structure.

It's a multidimensional view that gets both developed, but constantly refreshed at the top of the house for sensibility.

There isn't a notion of we have to be this and we have to be that.

The market's changing, the world's changing.

We need to have the liquidity to always react.

We need to be flexible, but at the same time, have permanence in stay of some of these businesses because that's what makes you a good partner and a good investor in some of them.

Above all, if you're coming from a place of a newish idea or you've got ideas and you're looking for capital partners, one is we always want to get that phone call.

By the virtue of what I've described before, our approach to the way we partner with people, these kinds of things come as referrals rather than a barrage of cold calls.

And that in itself is super helpful.

What are we interested in?

There's a very wide range.

waterfront of things that we do.

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