Gemcast Episode 11: Developed market private credit is under strain – time to look elsewhere?
1 April 2026
<p><iframe loading="lazy" width="560" height="420" src="https://www.youtube.com/embed/kNwLIb1vXbY?si=jkCyJoUM7pYpFWPV" title="YouTube video player" frameborder="0" allowfullscreen=""><span class="fr-mk" style="display: none;"> </span> </iframe></p><p>Felipe Berliner, Co-Founder and Head of Structuring at Gemcorp Capital, returns to Gemcast to unpick the cracks showing in developed market private credit – from rising concentration risk and covenant erosion to its growing overlap with public markets. He explains why recent events could mark a turning point for the asset class, where selectivity becomes non-negotiable, structuring matters again, and investors may need to look further afield for true diversification.</p><p>Listen and subscribe at:</p><p><a href="https://podcasts.apple.com/us/podcast/episode-11-developed-market-private-credit-is-under/id1818653261?i=1000758649258" target="_blank" rel="noopener noreferrer"><img loading="lazy" src="/getContentAsset/05269c87-563c-4f71-bb33-cb45a3e030a0/cb87803a-320c-480f-ab75-7b9029eaaf79/apple-podcast-icon.png?language=en" alt="apple-podcast-icon" title="apple-podcast-icon" style="width: 60px" class="fr-fic fr-fil fr-dii"></a> <a href="https://open.spotify.com/episode/0Ax5lPn7z5wqGA7bPcNJnP?si=a6dcb6bec33e43c3" target="_blank" rel="noopener noreferrer"><img loading="lazy" src="/getContentAsset/6194fe17-0588-4a00-abb9-3b64539ea2c8/cb87803a-320c-480f-ab75-7b9029eaaf79/spotify-logo.png?language=en" alt="spotify-logo" title="spotify-logo" style="width: 60px" class="fr-fic fr-dii fr-fil"></a> <a href="https://www.youtube.com/watch?v=kNwLIb1vXbY" target="_blank" rel="noopener noreferrer"><img loading="lazy" src="/getContentAsset/fe81f970-598d-4cc4-b1e7-e75b82e51d45/cb87803a-320c-480f-ab75-7b9029eaaf79/youtube-logo.png?language=en" alt="youtube-logo" title="youtube-logo" style="width: 60px" class="fr-fic fr-dii fr-fil"></a></p><p><br></p>
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