It's a great time for buying across private equity and private credit, says Steve Klinsky

Summary

Steve Klinsky, founder and CEO of New Mountain Capital, argues that private equity and private credit are oversold and present strong buying opportunities. He highlights the undervaluation of publicly traded BDCs due to low default rates and dismisses fears around AI and market exits. Klinsky also discusses the need for guardrails in retail access to private markets and addresses geopolitical impacts on investment.

• Steve Klinsky is bullish on private credit, calling it an oversold asset class.
• He sees publicly traded BDCs as undervalued, trading at deep discounts to book value.
• He believes private equity is not at risk and expects a wave of exits soon.
• He addresses concerns about AI impacting businesses, stating the fear is overrated.
• He discusses the resilience of private equity despite geopolitical tensions in the Middle East.
• He emphasizes the importance of proper guardrails for retail investment in private markets.
• The interview covers trends in private equity and credit, including fundraising and market dynamics.
• Klinsky shares insights from his experience, including starting a credit arm after the 2008 crisis.