{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Private Credit Valuation: Opportunities, Risks, and Lessons from the Great Financial Crisis (GFC)","description":"The private credit landscape stands at a critical juncture amid rising technical defaults, restructurings, and redemption pressures. Our guest, Luca Blasi, draws on his unique experience in valuation, banking, and regulatory oversight, our industry expert observes parallels with the rapid growth, compressed risk premia, weaker underwriting discipline, and opaque pricing prevalent in the pre-GFC era, but highlights a key difference: today\u2019s capital is largely held by longer-horizon investors like pensions and insurers rather than highly leveraged banks. Luca analyzes potential spillover effects from private equity\u2019s current slower exits, echoes a clear need for better data standards and benchmarks in assessing risks, and makes a compelling case in reinforcing why defensible valuations depend on consistent methodology, transparent assumptions, and strong governance.  Key takeaways: \u2022    Current long(er) horizon investor base is a key difference with pre-GFC environment  \u2022    Difficulty in verifying underwriting quality necessitates looking beyond headline defaults \u2022    Limited benchmarks and transaction data make valuations subjective and less comparable \u2022    Strong governance demands independence, documentation, and timely valuations Guest:  Luca Blasi, PhD, FRM, Managing Director and Head of Private Markets Valuations and Regulatory Solutions, S&P Global Host: Howard Mah-Lee, ABV, CFA, CAIA Senior Manager, AICPA Valuation Services Continue reading to learn about key resources available at AICPA-CIMA.com to improve your valuation analyses. Please share your thoughts about the episode -  click here to leave us a review   Want to get involved with future FVS conferences, committees and advisory groups, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com     RESOURCES FOR FURTHER EXPLORATION If you\u2019re using a podcast app that does not hyperlink to the resources, please visit our podcast platform to access the show notes with direct links.  Accounting and Valuation guides from AICPA  If you are an AICPA-FVS Section member see below for free access to these guides Valuation of Privately Held Companies Equity Securities Issued as Compensation Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies Assets Acquired to Be Used in Research and Development Activities - Accounting and Valuation Guide Exclusive content available with AICPA FVS Section membership:  Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content Valuation of Privately Held Companies Equity Securities Issued as Compensation Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies The FVS Valuation Podcast archives Current Trends In Private Credit Markets 409A Valuations \u2013 What you Need to Know Libsyn Five | Financial Instrument Valuation Series: SAFEs, Convertible Notes, and Embedded Derivatives LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS: Accredited in Business Valuation (ABV\u00ae) \u2013  Visit the home page and check out the ABV infographic Certified in the Valuation of Financial Instruments (CVFI\u00ae) \u2013  Visit the home page , the alternative investment valuation resource and community page , and check out the CVFI infographic Certified in Financial Forensics (CFF\u00ae) -  Visit the home page and check out the CFF infographic This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at podcast@aicpa-cima.com   ","author_name":"The FVS Valuation Podcast","author_url":"https:\/\/fvssection.libsyn.com\/fvs","html":"