Episode 135: Private Markets Today with Tom Keck of StepStone Group

In this episode of the InsuranceAUM.com podcast, Stewart Foley speaks with Tom Keck, partner and head of research and portfolio management at StepStone Group, about the dynamic landscape of private markets. They discuss the rise of private credit, the ongoing disintermediation of banks, and how insurance companies are stepping in as key players in non-bank lending. Tom dives into how private markets create value across different asset classes, and why areas like direct lending and infrastructure are poised for growth despite challenges in other sectors, such as commercial real estate.

Tom also addresses the debate surrounding private equity valuations and volatility, offering insights into whether private markets are truly insulated from recent market turbulence or if there’s more to the story. If you want a deep dive into how private markets are evolving in today’s macroeconomic environment, this episode is a must-listen for insurance investors navigating alternative asset classes.