30-Jun-2026
Explainer – The two engines of private credit
Discover how combining direct corporate lending and asset-backed securities creates a more diversified, resilient and income-focused private credit portfolio.
In this episode of It’s Not All PC, we explore what matters most for advisers in private credit in 2026. From yield and risk to liquidity, transparency and finding genuine opportunities in a more cautious market.
Three experienced credit practitioners real-talk about private credit.
Host Natalie Philips, Head of Distribution NSW & QLD at Privity Credit, is joined by Andrew Rocks, Co-Founder of Lydian Financial Services and Atiya Habib, Managing Partner at Privity Credit.
Private credit is becoming an increasingly important consideration for advisers, but understanding the asset class means looking beyond headline yields and asking how managers actually manage risk.
In this episode, the presenters unpack what advisers should consider when assessing private credit in today’s market.
The discussion helps clarify:
- How advisers can assess whether a manager has the experience, discipline and structures to protect capital
- Why the mid-market is creating opportunities as banks step back from more bespoke lending
- How rigorous due diligence, senior security and tailored structures can support downside protection
- Why manager transparency, communication and through-the-cycle experience are critical when evaluating an investment
- Where private credit can sit within a modern portfolio, particularly for investors seeking income and diversification
Complete the form to get instant access to the recording and transcript then jump to the chapter you are most interested in:
00:00 Introductions
02:25 The different types of private credit
04:12 How experienced advisers critically assess the market
12:43 Protecting assets
16:03 Insights on asset allocation
20:13 What makes a good manager
26:28 Work-out experience
30:06 Key takeaways
30:54 Contact information and disclaimers
