In this episode of Definitely Uncertain, we discuss we discuss the evolving landscape of private credit and the potential impact of AI on market performance. David Hirschmann of Permira Credit explores the current shift toward a lender’s market and how recent technological launches, like Anthropic’s Claude 4.6, have created market anxiety regarding software-related loans. The conversation examines the pressure to deploy capital in the retail channel and the widening of spreads in the European mid-market. Additionally, the guests analyze how tensions in the Middle East and energy supply dependencies are affecting global M&A activity and GDP forecasts.

IN THIS EPISODE, WE DISCUSS:
• AI and Software Vulnerability
• Private Credit Market Shifts
• Retail Channel Capital Flows
• Sector Expertise and Performance
• Effects of Regional Conflicts and Energy Supply on Global M&A