{"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":"Golub Capital’s David Golub - inside the mind of one of private credit’s pioneers","html":"","width":"100%","height":180,"duration":4208,"description":"Welcome back to the Alt Goes Mainstream podcast.\nWe went to Golub Capital’s New York office to sit down with Co-CEO David Golub.\nDavid Golub and his brother Lawrence both started their careers in private equity. It was their experiences in private equity in the 1990s that turned them into private credit pioneers.\nLawrence and David have built Golub Capital into a $95B private credit behemoth, largely due to their pioneering decision to create the “one-stop” unitranche loan solution for sponsor-backed companies after spotting a gap in the sponsor finance market. \nFast forward over 30 years, and Golub Capital is one of the leaders in private credit. \nDavid discussed how Golub has spent the balance of its life as a scaled specialist credit manager “honing the competitive advantages” that make the firm so unique. Golub has built a cadre of 200 high-quality sponsor relationships with many of the industry’s top private equity firms, which call on them when they are seeking sponsor financing for their companies.\nDavid and I had a fascinating conversation that covered everything from the early days of private credit to the story of pioneering unitranche loans to what LPs should look for in GPs to the psychology of relationships and partnerships. We discussed:\nWhat David and Lawrence saw in the early days of private equity informed how they decided to build Golub.\nWhy the unitranche loan became popular with private equity sponsors.\nWhat Golub looks for in relationships with private equity sponsors.\nWhy focus has been a key driver of scaling Golub’s business.\nWhat LPs should ask GPs when evaluating their fund and firm.\nWhy LPs should evaluate GPs based on how GPs think about their own business.\nThe psychology of relationships and partnerships.\nHow David’s experience being surrounded by a family of psychologists and psychiatrists has given him an edge in investing, negotiating, and building win-win relationships.\nBio\nDavid Golub is Co-Chief Executive Officer of Golub...","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}