AI Summary
5 min read🎙️ The Voices & The Context
- The Format: Casual interview with hosts bantering on market hype cycles before diving into a deep dive with the guest on private credit trends.
- The Key Players:
- Hosts: Tracy Alloway and Joe Weisenthal – Bloomberg Odd Lots duo with sharp, witty chemistry; Tracy shares personal cockroach horror stories, Joe probes skeptically on risks.
- Guest: Michael Zawatsky (Zee), Global CIO for Blackstone Credit and Insurance – Credited with growing Blackstone's credit into its largest business by assets; expert defender of private credit's durability.
- The Vibe: Educational and optimistic, laced with fun banter (cockroaches steal the show); counters market doom with data-driven bullishness on private credit amid AI boom.
🗝️ Key Themes & Topics
The episode cycles through private credit's resilience, AI-fueled growth, and future risks, blending hype debunking with investment insights. Main topics: private credit evolution, AI/data center financing, competition/dispersion, and insurer partnerships.
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What you'll learn
- 1 (00:00) **🎙️ Introduction: Michael Zawatsky (Zee)**
- 2 (05:19) **Growth of Private Credit**
- 3 (08:27) **Competition and Risk Concerns**
- 4 (09:57) **AI/Data Center Financing**
- 5 (15:32) **AI Exposure in Portfolio**
- 6 (18:07) **Corporate Solutions and Deal Sourcing**
- 7 (22:25) **Response to Recent Blow-Ups**
+ Full timestamped outline available in the app
Show Notes
We talk all the time about private credit. And we increasingly talk about it from the perspective of the AI buildout, and how all of these datacenters are being financed. But why did the space get so big in the first place, and what does its history indicate for the future of the asset class? On this episode, we speak with Michael Zawadzki, the Global CIO for Blackstone Credit and Insurance. Michael’s been with the firm since 2006, and built its private credit from the ground up. He talks about what it took to succeed in the space, the advantages that accrue to large players, and why private credit has played such an important role in financing AI infrastructure.
Read more:
Private Credit Firms Push New Funds in Bid to Tap Retiree Money
BlackRock’s HPS Makes Its First Asia Investment After Merger
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