Brandon Sedloff and Matt Schwartz explore the evolution of fund finance and private credit on The Distribution. Matt, Global Head of the Finance Practice at DLA Piper, shares insights from his two decades in legal finance, including his journey from representing venture debt transactions to overseeing one of the world's largest law firm finance practices. The conversation examines how the financing landscape has fundamentally shifted over the past decade, with private credit funds taking on more complex transactions while banks have moved into back-leverage arrangements. Matt emphasizes the critical role of data strategy and AI adoption in modern fund operations, noting how GPS are using technology to improve underwriting and portfolio management.

They discuss:

• Why traditional underwriting standards are returning and how data analytics are improving investment decisions
• How banks and private credit funds are increasingly collaborating rather than competing on deals
• The role of insurance capital and hybrid structures in expanding fund finance options
• Whether retail investors can successfully participate in illiquid private credit markets as valuation tools improve
• Why technology and life sciences remain strong despite headlines suggesting otherwise