Credit Markets in Transition: Asset-Based Finance Part II

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All the Credit

Credit Markets in Transition: Asset-Based Finance Part II

With Brian Barnhurst, CFA & Oliver Nisenson — Dec 17, 2025

31 mins listen

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ALL THE CREDIT | EPISODE 65

Private asset-based finance (ABF) is the catch-all of credit markets—a diverse and complex segment offering a wide range of investment opportunities. In this follow-up to our previous ABF discussion, we delve deeper into the asset class and what it takes to be successful from origination to underwriting and portfolio construction. We discuss investment areas of interest—as well as those we’re apt to avoid—and examine the convergence of structured products and corporate credit through the lens of AI and data center finance. This episode also explores market dynamics, risk management, and where private ABF fits into multi-asset portfolio construction.

PGIM’s Brian Barnhurst, CFA, Head of Global Credit Research, hosts Oliver Nisenson, Head of Asset-Based Finance.

Recorded on November 26, 2025.

Listen to ABF Part I of All the Credit keyboard_arrow_right

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ALL THE CREDIT | EPISODE 65

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