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13 results for “lending”
“The disciplined approach to scaling a lending business through systematic testing”
...that point in a lending business. And, you know, we're now at that stage where we're seeing, you know, pretty phenomenal growth on direct, and you're able to then just start scaling that because you h
27:28 / 28:05
tactical advice27:28 – 28:05
...is one of these things. Bill Simmons, the Podfather, he's a sports podcast that I like to listen to. He has this thing where he says overrated, underrated, or properly rated. Direct lending, which is a big part of what we do now, got very hyped up. E
7:26 / 8:31
from transcript7:26 – 8:31
...Lending was completely in vogue. You used to go to LendIt, and, like, the person who did your hair was at LendIt. And, that was the first wave. And then everyone realized, well, you know what? These companies aren't really much more than lending busi
15:39 / 16:54
from transcript15:39 – 16:54
...fund, leverage is a lot lower because you're getting a significant pickup in spread. You're getting an extra a 150, 250 bips. The asset class exploded because institutions needed yield. Today, direct lending competes with the syndicated loan market.
17:34 / 19:04
from transcript17:34 – 19:04
...would do quite well in recessions because of the asset liability mismatch is gone. Because you're working closely with sponsors, it would do quite well on a relative basis. You wanna own nothing in a recession. But the biggest threat is industry conc
17:59 / 19:06
from transcript17:59 – 19:06
...lending, which is typically a very customized product. Again, prior to that global financial crisis, banks served a lot of that construction lending market because they were able to provide somewhere between 6580% loan to cost construction loans. Now
8:54 / 10:13
from transcript8:54 – 10:13
...lending became a very different place. And, obviously, if you looked at that 2009 period of time, we were buying loans, we were originating loans, but But it was a very hard period of time because between o eight and '12, we were in between funds. An
6:44 / 7:51
from transcript6:44 – 7:51
...lending platforms, and it really came back to that thesis of there was still a massive opportunity in lending. Lending was completely in vogue. You used to go to LendIt, and, like, the person who did your hair was at LendIt. And, that was the first w
16:28 / 17:54
from transcript16:28 – 17:54
...lending is absolutely, you know, what you hear about in the headlines. It is the biggest part of the market. You know, it's filled a gap where the banks used to be. But beyond direct lending, there's also structured credit. So you have collateralized
21:36 / 22:51
from transcript21:36 – 22:51
they have to be so paranoid about the downside, this breeds in them a thoroughness, a thoughtfulness that's not always the case with equity investors for whom maybe that intuition of, oh, this team, this thing could go far is more important. Like, Ca
1:05:11 / 1:07:01
from transcript1:05:11 – 1:07:01
but we weren't lending money at LIBOR, the predecessor to SOFR, LIBOR plus three fifty. We wanna do it at how's LIBOR plus 900 sound? With all types of bells and whistles and covenants and structural protection and call protection, the result of whic
35:12 / 36:17
from transcript35:12 – 36:17
...lending and borrowing to start? So, yeah, lending and borrowing is an interesting use case. So there are several, like, money market style platforms where lenders can show up, deposit tokens, and earn a yield on them. And they get paid a yield by bor
23:05 / 24:23
from transcript23:05 – 24:23
...competes with the syndicated loan market. The players have hundreds of billions of dollars. They will hold $2,000,000,000 in a name, so it's no longer a cottage industry supporting the underbanked. It is a direct competitor to the syndicated loan mar
18:45 / 19:59
from transcript18:45 – 19:59
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