The Bridge Ep. 21: What the Headlines Miss About Private Credit

Private credit was one of the defining investment stories of 2026.

 

In this special compilation episode of The Bridge, Sonali Basak brings together insights from some of the industry's leading investors to explore the year's biggest debates, from liquidity concerns and credit fundamentals to manager selection, valuations, and underwriting discipline.

 

Featuring insights from:

 

Jack Neumark, Co-CEO & Managing Partner, Fortress Investment Group

 

Victor Khosla, Founder & CIO, Strategic Value Partners

 

Steve Tananbaum, Founding Partner & CIO, GoldenTree Asset Management

 

Vivek Bantwal, Co-Head of Private Credit, Goldman Sachs Alternatives

 

Mathieu Chabran, Co-Founder, Tikehau Capital

 

David Manlowe, CEO, Benefit Street Partners

 

Sam Williams, Managing Director, iCapital

 

The conversation examines why dispersion is creating greater differentiation across private credit, why many investors saw healthier fundamentals than market narratives suggested, and why understanding differences across strategies and structures has become more important than ever.

 

The central message: private credit may be entering a more disciplined phase, one where manager selection, underwriting quality, and a deeper understanding of risk will be the key differentiators.