Private credit – Signals, concerns, and manager selection

This week we’re joined by Sonali Basak, Chief Investment Strategist at iCapital, a global fintech leader transforming access to alternative investments. Sonali leads strategic thought leadership across public and private markets, delivering actionable insights to financial advisors, investors, and asset managers worldwide. Before joining iCapital, she spent 12 years at Bloomberg, most recently as the network’s lead global finance correspondent and anchor, hosting the flagship show Open Interest and spearheading Bloomberg Invest. One of the most trusted voices in financial journalism, she now brings that same data-driven rigor to alternative investments.

We sit down with Sonali to unpack one of the most turbulent stretches private credit has faced in recent memory, from AI disruption to elevated redemption activity across major vehicles. We dig into the biggest misunderstandings fueling investor anxiety, particularly around liquidity, and the key signals advisors should watch to separate real risk from headline noise. We also trace the evolution of alternatives in high-net-worth portfolios, the education gap facing advisors and clients alike, and the criteria Sonali uses to evaluate private credit managers in today’s increasingly complex environment.

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