The Rise of Private Credit: How $1T in Capital Is Reshaping Finance

Private credit has exploded into a trillion-dollar asset class, but most people outside finance still don’t understand how it works.

I sat down with Ivan Zinn, founder of Atalaya Capital Management and now part of Blue Owl Capital, to unpack the real mechanics behind the private credit market. Few people have a clearer view of how capital flows through the economy.

During our chat we unpack:

What private credit actually isWhy banks pulled back after the Global Financial CrisisHow private lenders stepped in to finance everything from consumer loans to equipment, infrastructure, and fintech platformsWhere entrepreneurs could build meaningful companies by modernizing the infrastructure behind asset management.

Big thanks to Ivan for sharing such a thoughtful and practical perspective on the evolving capital markets ecosystem.

⏱️ Chapter Markers

00:00 Introduction to Ivan Zinn

01:40 What Private Credit Actually Is

03:05 Asset-Based Lending Explained

04:36 Why Banks Don’t Make These Loans

08:11 How Private Credit Filled the Financing Gap

09:19 Ivan’s Journey into Credit Investing