Underlying fundamentals in private credit appear sound, so why are negative headlines implying something different? Private Credit has generally offered yields higher than public high yield markets usually due to the liquidity premium, but it is not designed to be a daily liquidity asset class. To better understand the trade-offs, Brian Resnick gives a quick take on what's happening in private credit today.

This podcast is for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security, fund, or strategy. Views are as of the recording date and may change. Private credit involves significant risks, including illiquidity, credit loss, valuation uncertainty, leverage, and limited transparency. Any market data discussed should not be relied on as a forecast or guarantee.

Note to All Readers: The information contained here reflects the views of AllianceBernstein
L.P. or its affiliates and sources it believes are reliable as of the date of this podcast.
AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of
any data. There is no guarantee that any projection, forecast or opinion in this material will
be realized. Past performance does not guarantee future results. The views expressed here
may change at any time after the date of this podcast. This podcast is for informational
purposes only and does not constitute investment advice. AllianceBernstein L.P. does not
provide tax, legal or accounting advice. It does not take an investor's personal investment
objectives or financial situation into account; investors should discuss their individual
circumstances with appropriate professionals before making any decisions. This information
should not be construed as sales or marketing material or an offer or solicitation for the
purchase or sale of any financial instrument, product or service sponsored by
AllianceBernstein or its affiliates.

Matt Bass, Head of Private Alternatives at AllianceBernstein, offers his view on private markets – from asset diversification and liquidity to the potential for growth and regulation. With a focus on transparency and clearing up misconceptions, Matt takes us behind-the-scenes at a growing fund manager poised at the intersection of direct lending, asset-based finance and all things private credit.

Note to All Readers: The information contained here reflects the views of AllianceBernstein
L.P. or its affiliates and sources it believes are reliable as of the date of this podcast.
AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of
any data. There is no guarantee that any projection, forecast or opinion in this material will
be realized. Past performance does not guarantee future results. The views expressed here
may change at any time after the date of this podcast. This podcast is for informational
purposes only and does not constitute investment advice. AllianceBernstein L.P. does not
provide tax, legal or accounting advice. It does not take an investor's personal investment
objectives or financial situation into account; investors should discuss their individual
circumstances with appropriate professionals before making any decisions. This information
should not be construed as sales or marketing material or an offer or solicitation for the
purchase or sale of any financial instrument, product or service sponsored by
AllianceBernstein or its affiliates.

Scott Greenfield, principal with AB CarVal, takes us on a tour of the broad commercial real estate credit market from private lending to investments in commercial mortgage backed securities (CMBS). He discusses what's interesting, the relative value between public and private markets, and how he and his team are deploying capital without chasing what everyone else is.

Welcome to the first episode of Uncommon Capital's Quick Takes where host Brian Resnick breaks down real world investment insights in under five minutes. For our first topic, we start at the beginning: What are private markets?

Private markets are expansive and still growing, and it all began with core middle market direct lending. Jay Ramakrishnan, senior managing director with AB Private Credit Investors, guides us through the evolution of the market – from its early 90's beginning to its surge post-GFC and through its continued climb as banks face greater capital constraints. Despite recent industry scrutiny, the demand for corporate direct lending is on the rise and it's critical to know what to look for when choosing a manager in an increasingly overcrowded space.

In this episode of Uncommon Capital, Aaron Filbeck, managing director and head of content and community strategy at CAIA, takes us to the intersection of education, innovation, and the rapidly evolving world of alternative investments. Aaron breaks down the ins-and-outs of alternatives and makes the case for being well-informed – ultimately, we must learn to say "no" as often as we say "yes."

In this episode of Uncommon Capital, Brian Resnick and Ken Haman, managing director of the Advisor Institute at AllianceBernstein, dive into the challenges advisors face when navigating alternative investments. Ken provides actionable insights and strategies to help advisors overcome obstacles, build trust and effectively introduce alternatives to client portfolios.