{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Brown Advisory CIO Perspectives","title":"AI, Tariffs & Microcycles: Credit Investing in a World of Disruption with Jon Lewinsohn of Diameter Capital Partners","html":"","width":"100%","height":180,"duration":3306,"description":"In this episode of CIO Perspectives, Sid Ahl, Co-CIO for Private Clients, Endowments and Foundations at Brown Advisory, and Co-CIO Erika Pagel interview Jon Lewinsohn, founder and managing partner at Diameter Capital Partners, a leading credit investment firm with expertise across public, private and structured credit markets. Jon shares his investment philosophy, shaped by years of experience in credit research and trading, and built on the idea of creating alpha through multiple ways to win—across stressed, performing and distressed credit. He emphasizes the importance of being “safely fast,” combining speed with discipline, and highlights the role of deep industry expertise and macro awareness in navigating today’s complex environment.The conversation explores how Diameter organizes its research teams to respond quickly to emerging opportunities, with analysts developing both macro and micro views across sectors. Jon discusses the firm’s expansion from a single-strategy hedge fund into a diversified platform, including Collateralized Loan Obligations, direct lending and dislocation funds, while maintaining nimbleness and avoiding size constraints that could dilute performance. Macro topics such as inflation, Fed policy and tariffs are addressed, with Jon cautioning against overreliance on external economic forecasts and stressing the importance of forming independent views. He shares insights into the current credit environment, noting tight spreads and the need for selectivity, particularly in identifying opportunities within microcycles—industry-specific dislocations driven by technological change or policy shifts. He also discusses the impact of AI, both as a transformative technology and as a driver of capital flows, and Sid and Erika conclude the episode by reflecting on Jon’s high-energy approach, the depth of Diameter’s team and the firm’s ability to combine macro insight with bottom-up credit work. They underscore the importance of disciplined risk...","thumbnail_url":"https://img.transistorcdn.com/cea_fOg5jD6VQyMZUcehYYYmXt8p6FTDovdCQNfQYsc/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8zNTgx/M2UyMzE5NWUyNjg1/YTVkN2Y4ZDk4NjU2/Yzk3OC5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}