Oppenheimer
Private Credit: Beyond the Headlines
March 26, 2026
Key Takeaways:
- Private credit has grown into a $2+ trillion market as banks have stepped back from lending.
- Recent headlines reflect liquidity pressures more than broad credit deterioration.
- Crowded segments may face tighter returns amidst weaker underwriting and loosening credit standards.
- Specialized areas such asset-based lending and smaller deals are emerging as attractive opportunities.
- A selective, defensive approach is increasingly important.
Private credit has moved from a niche allocation to a core part of today’s investment landscape—but the environment is beginning to change.
In this episode of Let’s Talk Future, Matt Kennedy, Head of Sales and Marketing at Oppenheimer Asset Management, speaks with Michael Ardisson, President & Chief Operating Officer at Medalist Partners, about what’s happening beneath the surface of this rapidly growing market.
They explore why recent volatility may represent the first real test for private credit at scale, how liquidity dynamics are shaping current headlines, and where risks may be building in more crowded areas of the market. The conversation also highlights where the opportunity set is shifting—toward more specialized areas such as asset-backed strategies where structure, discipline, and selectivity can make a meaningful difference.
Listen to the full episode to hear how private credit is evolving—and what it may mean for portfolios going forward.
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