Growing Pains

<p>Prath comes off the road from back-to-back investor conferences in Deer Valley and Aspen with a read on where institutional sentiment actually stands. Then Nelson and Prath dig into the Blue Owl 40.7% redemption headline, why JPMorgan and Goldman building short tools is actually a sign of maturity, and what PIMCO, KKR, and J.P. Morgan are all saying about asset-based finance as the safe harbor in private credit. Plus: the Anthropic code leak, a Clippy comeback, and a Bonzi Buddy reunion nobody asked for.</p>