In this episode of Inside the Rope, host David Clark and Tom Oryl dive straight into the rapidly evolving private credit sector alongside Raghav Khanna, Co-CIO of Oaktree's Private Credit Wealth Products. As high-profile defaults like the Bathla collapse make local headlines, sophisticated investors are left questioning where real yield ends and structural fragility begins. Raghav breaks down how Oaktree - a firm renowned for its Howard Marks-driven risk discipline and expertise in distressed credit, is analysing current market dislocations, evaluating risk premiums, and underwriting through macroeconomic noise.

Key Takeaways:

• Navigating Market Stress: Analysis of recent defaults and broader systemic concerns in non-bank direct lending.

• Evaluating the Risk Premium: How Oaktree approaches credit selection when yield spreads tighten across public and private markets.

• Distressed Opportunities: Insights into how historical credit cycle management shapes today's deployment of wealth capital.

• Portfolio Positioning: Practical frameworks for insulating private debt allocations against liquidity bottlenecks and credit deterioration.

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