TCW's Katie Koch Sees No Reason to Panic Over Private Credit

Summary

TCW President and CEO Katie Koch discusses the private credit landscape at the Milken Institute Global Conference. She sees no reason to panic, highlighting opportunities in asset-backed finance and rescue finance. She emphasizes manager selection and TCW's disciplined approach, noting the launch of the TEPAY interval fund in asset-backed finance.

• Katie Koch says private credit is not radioactive and sees opportunities after recent accidents.
• She advocates for asset-backed finance as a late-cycle yield source.
• TCW has launched an interval fund (TEPAY) in asset-backed finance.
• She expects consolidation among private credit managers but not widespread failures.
• TCW is deploying most capital in rescue finance.
• She highlights TCW's active ETF franchise in income, power, and AI.
• She stresses the importance of manager selection in private credit.
• No reason to panic over the asset class, according to Koch.