In this episode of The Bridge, Sonali Basak sits down with Victor Khosla, Founder & CIO of Strategic Value Partners, to discuss why "private credit" has become too broad a term to be meaningful, how opportunistic credit has evolved from distressed paper trading to actively owning and operating real assets, and why today's credit environment is unlike anything Khosla says he has seen in decades.
The conversation also covers the structural stress building across high yield, leveraged loans, and private credit markets, why software is emerging as the biggest fault line for private equity and credit portfolios, and what the coming shakeout will reveal about who was truly positioned for this cycle and who wasn't.
