E432: $24 Billion Investor on Private Credit, the Psychology of Winning & Fear of Failure

Monroe's founder argues private credit's "bubble" fear is really retail-driven noise, while true unrecognized risk sits in private equity's junior capital.

• Monroe's scale: Ted Koenig grew Monroe Capital from a 2001 startup targeting $3-4B to a $24B firm deploying $10B/year, compounding 25% CAGR over 15 years, organically.
• Market shift post-GFC: Private credit's rise stems from bank regulation after TARP; buyout financing flipped from 90% bank/10% non-bank in 2001 to 90% private credit/10% bank today, a $2T market projected to hit $5T in five years.

Themes, sentiment and reasons are AI-written paraphrases, checked so they never quote an episode. They may contain errors. Not investment advice. Episodes remain the property of their creators.