Private credit is everywhere right now. In this episode, Christian and Rod step back from the noise and lay out what it is in plain English: non-bank lending to mid-sized companies and real-asset portfolios, typically via a fund that aggregates capital from accredited investors. Think “not a bank loan, not a bond”—that middle lane where capital still needs to flow.

We walk through an A+B=C example so you can see the mechanics end-to-end—borrower, fund, investors, fees, and cash flow—then zoom out to why private credit is surging: the post-COVID cycle, higher rates, banks tightening, and investors licking wounds from overheated equity syndications. The result? More people are choosing steady, “boring” debt over shoot-the-moon equity.

From the investor’s seat, we cover the upside: consistent cash flow, potential collateral, bond-alterna ...