{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Modern Capital: The Private Markets Podcast","title":"Harald Collet: Who Wrote That Spreadsheet Formula?","html":"","width":"100%","height":180,"duration":3193,"description":"Private credit grew faster than the infrastructure built to monitor it.\nLPs are still reconciling loan agency notices, compliance certificates and financial statements by hand, out of spreadsheets held together by Excel formulas nobody currently employed can explain. The operational risk is real, and for some of the world's most important institutional investors, it's now front and center.\nHarald Collet's answer isn't a standard. He's betting that private markets data will never standardize the way public markets did. \nSo he built Alkymi to absorb the mess, rather than wait for the industry to clean it up. The clients putting that bet to work are sovereign wealth funds, insurance companies and pension funds - with collectively over $20 trillion in AUM - for whom getting data 45 to 60 days ahead of the CIO is the difference between monitoring risk and discovering it.\nIn this episode of the Modern Capital Podcast, Harald and Marc cover:\nWhy private credit requires hundreds of data points per loan and why that number will never standardize\nWhat it actually takes to move a monitoring workflow off spreadsheets and into production\nWhy every effort at common data formats in private markets hits the same wall\nThe Forward Deployed Engineer model for getting firms through the change management they can't staff themselves\nWhy Excel isn't going away and why it was never supposed to be the reporting platform\n\n\"These were young hopeful professionals that were sold on the dream of joining a glamorous firm, and they were essentially processing PDFs in the shared email inboxes for the first 18 months of their time at the firm... And we thought, this is a terrible way to work.\"\n\nPrivate credit needs real data infrastructure. The asset class is only growing and the mess is only getting bigger. The firms still waiting for a standard are running out of time.","thumbnail_url":"https://img.transistorcdn.com/WtfSQHA--1-XpZlRXLqWOYkNNyL8XBtIdhKD0g1BFfY/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9jOTc2/YmJiYTk4ZjgzY2E2/MmJhZDZlNmIxZGI0/Yjc3NS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}