{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Alt Goes Mainstream: The Latest on Alternative Investments, WealthTech, & Private Markets","title":"Oak Hill Advisors' Eric Muller - operating at the intersection of public and private credit: live from iCapital Connect","html":"","width":"100%","height":180,"duration":1864,"description":"Welcome back to the Alt Goes Mainstream podcast.We were live from iCapital Connect’s conference in Phoenix, where we sat down with some of the industry’s leaders across asset management and wealth management.Eric Muller is Portfolio Manager & Partner, CEO - BDCs for Oak Hill Advisors (OHA). Oak Hill, which was acquired by T. Rowe Price in December 2021, has $112B AUM across performing and distressed credit-related investments in North America, Europe and other geographies.Eric shares responsibility for leading OHA’s private credit business and has primary management responsibility for OHA’s BDCs. Prior to joining OHA in 2018, Mr. Muller worked in Goldman Sachs’ Merchant Banking Division, where he was a Partner in the Private Credit Group, responsible for leading its private senior lending business in North America and managing vehicles that invested across the spectrum of the credit market. With credit on the minds of many, Eric provided a nuanced perspective on the current state of the credit markets and where to uncover both opportunity and risk in the market.Eric and I had a fascinating conversation about the current state of private credit. We discussed:How his experience in private equity has informed how he approaches credit investing.What are the risk / reward trade-offs in private credit?Why credit investors need to be pessimists.How LPs should evaluate private credit firms and why the ability to do workouts matters.How do private equity sponsors pick their credit partners?Why private credit firms might have higher recovery rates than liquid credit markets.How OHA’s combination with T. Rowe Price has helped the firm productize for the wealth channel.What are misconceptions about private credit risk and liquidity?Where are the opportunities in liquid credit versus illiquid credit?Thanks, Eric, for sharing your wisdom, expertise, and passion for private credit and private markets.Show Notes00:00 Relative Value Lens00:11 A Message from Ultimus Fund...","thumbnail_url":"https://img.transistorcdn.com/AFAZ1vkAT92lFJtqt-r0HeFQ55KTdcbJHmgKXaMlAtY/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzE5MDA4LzE2MTQ1/Mzk1MDUtYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}