Jillian Murrish is Co-founder and CEO of Pier Asset Management, where she manages the firm and heads business development. Before founding Pier, Jillian was EVP of Capital Markets at Patch of Land and an investment banker at Houlihan Lokey.
On this episode, Chris and Jillian discuss:
- Senior Credit Facilities
- Litigation Finance
- Underwriting risk
- Consumer Loan defaults
- Why private credit firms should not be regulated like banks
Topics:
00:00:00 - Intro
00:00:57 - Jillian’s background and career
00:10:38 - Getting great prices for great assets vs. great prices for messy assets
00:15:30 - Providing senior credit facilities
00:16:53 - Why would someone borrow from you vs. a bank?
00:19:50 - Do you have a capacity of how much you can lend?
00:22:22 - Litigation Finance
00:34:45 - How are you sourcing deals?
00:36:29 - Are there common traits in deals that allow you to underwrite risk?
00:39:15 - Music royalties
00:45:31 - What are you seeing in today’s environment?
00:48:01 - Is the consumer paying their loans?
00:52:13 - What’s happening in the auto loan world?
00:58:41 - How do you think about secured vs. unsecured notes?
01:00:58 - What % of deals do you write that you need to repo?
01:01:54 - Why and why not: Private credit firms should be regulated like a bank
01:04:25 - Do you have a favorite story when it comes to a non-performing loan?
01:05:31 - What gave you the entrepreneurial bug?
Links
Jillian on Twitter - https://twitter.com/JillianMurrish
Pier Asset Management - https://www.pieram.com/
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