commercial banks

“It's still important for people to have programs that cultivate diverse talent at investment banks, at commercial banks, at private equity firms as analysts. I mean, that's still hugely important because that's where the networks come from.”

“A CLO has no financing that's due Prior to its last loan maturing. So we can see every loan through if we want to its ultimate maturity date. And again, every loan will default or pay off at par. It's a binary outcome. And I have financing in place that's long…”

“If you inject leverage into the equation, And your deposits, for example, can disappear for a reason, as we saw in the regional banking crisis last year, and you have assets that are not short-term and liquid, then you can create a mismatch there, maturity mis…”

“What's changed very significantly over the last period since the great financial crisis is the amount of capital that is required to be held per unit of risk on a bank's balance sheet. The formulae are complex and there's many of them, but bottom line is that …”

“They should, and they will find a way to get involved in this business, but it's hard. They're not really able to take these assets on their own balance sheet. All the issues that we all lived through during the GFC, they're muted today, but they still resonat…”

“In other parts of Asia, that dynamic doesn't exist. We're often looking, the ambit of what banks can do in that market is wide, and whenever you're trying to compete with someone with such a low cost of capital, you just have to step up the risk curve.”