The Bridge by iCapital

As more value creation happens in private markets, investors are looking for new ways to access opportunities and manage liquidity.  Erik Hirsch, Executive Co-Chairman of Hamilton Lane, joins Sonali Basak on The Bridge by iCapital to discuss how secondaries and evergreen funds are reshaping the private markets, and why manager selection still matters as much as ever.  They discuss:  Why more compa...

Private credit has become one of the fastest-growing areas of alternative investing, but its biggest test may still lie ahead. In Episode 27 of The Bridge, Sonali Basak sits down with Brendan McGovern, head of private credit at 26North, to discuss the approaching wave of loan maturities, why underwriting discipline matters more than ever, and how managers can differentiate themselves in a tougher...

How will artificial intelligence, data connectivity, and evolving infrastructure reshape the future of wealth management? In Episode 26 of The Bridge, Sonali Basak sits down with Lawrence Calcano, Chairman and CEO of iCapital, for a wide-ranging conversation on the technologies transforming financial services. Lawrence shares why he believes AI will enhance rather than replace financial advisors,...

Has the Fed entered a new era?  In Episode 25 of The Bridge, host Sonali Basak, Chief Investment Strategist at iCapital, sits down with Stephen Miran, senior strategist at Hudson Bay Capital Management and former Federal Reserve Governor, to unpack the forces reshaping markets today.  They explore why rising Treasury yields may reflect stronger growth expectations rather than inflation fears, how...

AI is creating one of the largest financing cycles in modern market history. Who's going to pay for it?  Amanda Lynam, chief credit strategist at Goldman Sachs, joins Sonali Basak to discuss how a multi-year, trillion-dollar AI buildout is reshaping public and private credit markets. Together, they explore where AI financing is coming from, why hyperscalers are only part of the story, and how inve...

Everyone is talking about AI. But can the economics keep up with the hype?   Torsten Slok, chief economist at Apollo Global Management, joins Sonali Basak to discuss how AI is reshaping markets, corporate spending, entrepreneurship, and the broader economy.   As higher interest rates force investors to focus on revenue, profits, and cash flow, Slok argues that the key question is no longer whether...

Everyone is talking about AI. But who is actually capturing the value?   Holden Spaht, Managing Partner at Thoma Bravo, joins Sonali Basak to discuss why enterprise software may emerge stronger, not weaker, in the age of AI. Rather than a "SaaS apocalypse," Spaht argues that AI's impacts have been counterintuitive, producing meaningful software investments and huge opportunities for companies with...

Private credit was one of the defining investment stories of 2026.   In this special compilation episode of The Bridge, Sonali Basak brings together insights from some of the industry's leading investors to explore the year's biggest debates, from liquidity concerns and credit fundamentals to manager selection, valuations, and underwriting discipline.   Featuring insights from:   Jack Neumark, Co-...

Khalil Hibri, co-Founder of Tangible Markets, joins Sonali Basak to discuss how investors are increasingly using secondaries for portfolio management, price discovery, and capital allocation decisions. Together, they explore why liquidity solutions are expanding across private markets, what current pricing trends reveal about investor sentiment, and how specialized buyers are reshaping the market....

Could the best way to invest in AI actually be the boring one?   Mike Dorrell, Chairman & CEO of Stonepeak, joins Sonali Basak to discuss why the firm prefers investing in the infrastructure behind AI rather than the technology itself. Together, they explore the surge in data center demand, why power has become one of the industry's biggest constraints, and where infrastructure investors are f...

What happens when AI changes work faster than businesses can adapt? Sonali Basak, Chief Investment Strategist at iCapital, sits down with Ronnie Chatterji, Chief Economist at OpenAI, to discuss how AI is reshaping the workforce, why jobs may be changing faster than they're disappearing, and what it will take for workers and companies to keep up. Together, they explore the rise of AI agents, the gr...

What happens when AI changes the rules of lending?   Sonali Basak, Chief Investment Strategist at iCapital, sits down with David Manlowe, CEO of Benefit Street Partners, to discuss why private credit may be moving beyond its golden age of broad outperformance and into a period where manager selection is increasingly critical.   Manlowe explains how AI is reshaping credit markets, why software expo...

What happens when strong performance starts to look a little too easy? Sonali Basak, Chief Investment Strategist at iCapital, sits down with Greg Bond, Chief Investment Officer of Man Group, to discuss what is driving the strength of quantitative hedge funds, where hidden risks may be building, and how AI is changing the way investors conduct research and prepare for market shocks. Bond explains w...

Private credit is facing a reset. But could that create the best opportunities in years?   Sonali Basak, Chief Investment Strategist at iCapital, speaks with Mathieu Chabran, co-Founder of Tikehau Capital, about the recent volatility in private credit and why he believes the asset class is entering a healthier, more disciplined phase.   While some investors have focused on redemption pressures and...

Sonali Basak, Chief Investment Strategist at iCapital, speaks with Al Rabil, CEO of Kayne Anderson, about why today’s real estate market may be far more dislocated than it appears.   While the broader economy looks stable, Rabil explains how rapid rate hikes and peak-era pricing created a meaningful reset across real estate. He argues that the opportunity exists in part because investors are not a...

What’s actually breaking in private credit—and what isn’t? Sonali Basak, Chief Investment Strategist at iCapital, is joined by Vivek Bantwal, Co‑Head of Private Credit at Goldman Sachs, to unpack a market where selectivity is returning. Bantwal explains why this moment is revealing a clear divide—between strong and weak borrowers, and between managers who underwrote for downside risk and those who...

Sonali Basak, Chief Investment Strategist at iCapital, is joined by Jason Thomas, Head of Global Research & Investment Strategy at Carlyle, to discuss how more value is being created before companies ever reach the public markets, and why that shift is changing how investors access growth. As private capital has expanded across the lifecycle of companies, Thomas explains why there are now sign...

Sonali Basak, Chief Investment Strategist at iCapital, sits down with Cliff Asness, Co-Founder AQR Capital Management, to discuss why today's "expensive" and "bubble" are not the same thing, and why the difference matters more than most investors think. With pockets of froth across today's market, Asness explains why he sets a deliberately high bar before calling a bubble, and why profiting from a...

In this episode of The Bridge, Sonali Basak, Chief Investment Strategist at iCapital, sits down with David Breach, President of Vista Equity Partners, to discuss why AI is rewriting the rules of software economics. Breach explains how AI is pushing the long-standing Rule of 40 toward a new bar closer to a Rule of 60 or 70, resetting valuations and raising expectations for what a high-quality softw...

Yes here's the title and description for Ep 9 -    VIDEO HEADLINE: (YouTube + Podcast Title)   The Bridge Ep. 9 | Software's on Sale. Is the Correction Over?   DESCRIPTION: (YouTube + Podcast)   In this episode of The Bridge, Sonali Basak, Chief Investment Strategist at iCapital, sits down with Steve Tananbaum, Founder and Chief Investment Officer of GoldenTree Asset Management, to discuss why tod...

In this episode of The Bridge, Sonali Basak, Chief Investment Strategist at iCapital, sits down with Jack Weingart, Chief Financial Officer of TPG, to discuss why the 2026 IPO surge is an anomaly rather than a trend, how the most significant value creation is increasingly happening in private markets before companies ever go public, and why today's IPO moment is masking a deeper structural shift t...

In this episode of The Bridge, Sonali Basak sits down with Victor Khosla, Founder & CIO of Strategic Value Partners, to discuss why "private credit" has become too broad a term to be meaningful, how opportunistic credit has evolved from distressed paper trading to actively owning and operating real assets, and why today's credit environment is unlike anything Khosla says he has seen in decades...

In this episode of The Bridge by iCapital, Rob Sechan, Co-Founder of NewEdge Capital, joins our Chief Investment Strategist Sonali Basak to unpack why AI concentration in markets is more justified than it looks, and why the investors who get it wrong are often watching the wrong risks entirely. From the arms race driving AI infrastructure spending to the disciplines that separate durable portfolio...

In this episode of The Bridge by iCapital, John Waldron, President & COO of Goldman Sachs, joins Soali Basak to unpack why the economy is stronger than it looks, where AI fits into the growth picture, and why the next major opportunity in private markets may be closer than investors think. From persistent inflation and elevated rates to the structural shift toward private credit and the evolut...

In this episode of The Bridge by iCapital, Sadek Wahba, Founder and Chairman of I Squared Capital, breaks down how investing in essential, hard assets—from airports and water systems to power generation, fiber, and data centers—can play a critical role in portfolio construction. He explores: - Why infrastructure can offer long‑duration, inflation‑linked cash flows - What digital infrastructure rea...