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Liquid Courage Video-Podcast
Primary-source thought leadership on the global private capital secondaries markets
Guest Speaker

Ed Goldstein

Partner and Chief Investment Officer, Coller Credit Secondaries, Coller Capital

Ed Goldstein is the Partner and CIO of Coller Credit Secondaries, a dedicated strategy within Coller Capital focused on the fast-growing private credit secondary market. He explains how credit secondaries have doubled year-over-year, far outpacing the growth of the underlying primary market, and makes the case that nearly half a trillion dollars in mature private credit fund assets are creating compelling secondary buying opportunities. Goldstein brings deep expertise in direct lending, portfolio construction, and the unique dynamics of underwriting credit versus equity secondaries.

Topics covered on Liquid Courage:
  • Growth trajectory of private credit secondaries vs. private equity secondaries
  • Gp-led continuation vehicles in seasoned private credit funds
  • Bdc liquidity dynamics and semi-liquid product misconceptions
  • Underwriting performing versus distressed credit portfolios at scale
  • Half-trillion dollars in private credit assets held over five years
  • Concentration of capital among mega-managers versus mid-sized credit firms
  • Gp alignment and skin-in-the-game in credit secondary transactions
  • Risk appetite and portfolio construction disciplines in credit secondaries

Liquid Courage Episodes

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Welcome to Liquid Courage!

About Liquid Courage

Liquid Courage is a video-podcast presenting thought leadership and research on the global private capital secondaries markets. On a regular basis, Liquid Courage convenes expert conversations about the investment opportunities and macro themes driving the secondaries market, including GP-led transactions, continuation vehicles, LP portfolio management, and the evolving role of secondaries across private equity and private credit.

Liquid Courage is hosted by financial journalist David Snow, a long-time chronicler of the alternative investment market.