Talk Your Book: The Private Credit Opportunity Set

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 27 January 2025

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Kyle Brown, CEO, President, and CIO of Trinity Capital to discuss valuations in the VC market, what advisors should be asking about when investing in this space, issues with crowding within the private credit space, and much more! Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Feel free to shoot us an email at [email protected] with any feedback, questions, recommendations, or ideas for future topics of conversation. Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Today's Animal Spirits Talk Your Book is brought to you by Trinity Capital.
0:02.6	Go to trinity Capital.com, where they have different investment offerings for institutional investors, wealth professionals, and public shareholders.
0:09.1	Check all their different alternative asset.
0:11.0	Funds at trinitycapital.com.
0:15.7	Welcome to Animal Spirits, a show about markets, life, and investing.
0:19.9	Join Michael Batnick and Ben Carlson as they talk about what they're reading, writing, and watching.
0:25.1	All opinions expressed by Michael and Ben are solely their own opinion and do not reflect the opinion of Riddholz wealth management.
0:31.4	This podcast is for informational purposes only and should not be relied upon for any investment decisions.
0:37.2	Clients of Britholt's
0:38.0	wealth management may maintain positions in the securities discussed in this podcast.
0:45.4	Welcome to Animal Spirits with Michael and Ben. We've spoken a lot about private credit, venture
0:50.3	debt, and we're going to continue to speak about it because it's becoming a bigger and bigger part of the financial ecosystem. One of the things that we spoke about on this podcast
0:58.9	that was interesting was I was of the opinion, or I am of the opinion, I think, that if you're
1:03.0	going to be in some of these deals, scale is a huge advantage. The space that Trinity Capital
1:09.4	plays is a little bit downstream. It's not like these
1:12.0	mega cap private deals. So scale is an advantage for the larger deals, but it's also where a lot of
1:17.4	the competition is, right? It's the same, I don't know, six to eight firms that are competing
1:21.6	with each other. Right. Yeah, because those huge private equity behemists are all in this space now.
1:27.2	I thought it was in it. So we talked to Kyle Brown today for Trinity Capital. He's the president, CEO and
1:31.0	CEO. And I thought it was interesting to hear him talk about the fact that the businesses actually
1:37.7	probably prefer to work with some of the different companies as opposed to the banks. There's probably
1:41.3	a little bit more wiggle room there, right? And I think the
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