Credit Secondaries: Where Liquidity Meets Relative Value with Greg Ciesielski of HarbourVest Partners
The Credit Clubhouse
In this episode of The Credit Clubhouse, I dive into an engaging conversation with Greg Ceselsky, Head of Credit Secondaries at HarborVest Partners. We explore the evolution of the credit secondary market, discussing key trends that have emerged over the last two decades, particularly in the wake of the global financial crisis. Greg shares insights on the growing importance of liquidity solutions in credit markets and the role of GP-led and LP-led transactions. We also touch on the impact of private credit's recent headlines, the challenges of underwriting, and the future dynamics of the secondary market. Tune in for a deep understanding of where credit stands today and where it’s headed tomorrow.
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