Private Credit and Its Role in a Diversified Portfolio with Phil Huber, CFA, CFP® (Ep. 101)
Private credit has become one of the fastest-growing areas of investing, yet it’s also surrounded by headlines that often create uncertainty.
How should long-term investors evaluate the opportunity? When does media attention reflect genuine risks, and when does it distract from the bigger picture?
In this episode, Robert Curtiss welcomes back Phil Huber, CFA, CFP®, Managing Director and Head of Portfolio Solutions at Cliffwater, to discuss private credit and its growing role in diversified portfolios. They explain why recent headlines about defaults, liquidity, and valuations deserve context, how private credit differs from traditional fixed-income investments, and why institutional investors continue to allocate to the asset class.
They also explore how long-term discipline, diversification, and a rules-based investment process can help investors separate meaningful information from market noise.
Key takeaways:
Why private credit has expanded as banks reduced lending to middle-market businesses
How private credit generates returns through contractual income rather than stock-like appreciation
Why institutional investors continue increasing allocations despite concerning headlines
How diversification and manager selection can help reduce borrower-specific risks
Why long-term discipline often leads to better investment decisions than reacting to headlines
And more!
Resources:
Educational videos (bottom of the page)
Connect with Phil Huber:
LinkedIn: Phil Huber
Website: Cliffwater
Connect with Robert Curtiss:
rcurtiss@seia.com
(626) 795-2944
About Robert Curtiss
LinkedIn: Robert Curtiss
Facebook: Robert Curtiss
SEIA
LinkedIn: SEIA
About Our Guest:
Phil Huber, CFA, CFP®, is the Managing Director and Head of Portfolio Solutions at Cliffwater, where he focuses on research, portfolio construction, and helping advisors and investors better understand private markets and alternative investments. He regularly analyzes topics including private credit, private equity, and portfolio diversification, translating complex investment concepts into practical insights for long-term investors. Through his research and industry commentary, Phil helps financial professionals evaluate alternative investment opportunities within disciplined, diversified portfolio strategies.
How should long-term investors evaluate the opportunity? When does media attention reflect genuine risks, and when does it distract from the bigger picture?
In this episode, Robert Curtiss welcomes back Phil Huber, CFA, CFP®, Managing Director and Head of Portfolio Solutions at Cliffwater, to discuss private credit and its growing role in diversified portfolios. They explain why recent headlines about defaults, liquidity, and valuations deserve context, how private credit differs from traditional fixed-income investments, and why institutional investors continue to allocate to the asset class.
They also explore how long-term discipline, diversification, and a rules-based investment process can help investors separate meaningful information from market noise.
Key takeaways:
Why private credit has expanded as banks reduced lending to middle-market businesses
How private credit generates returns through contractual income rather than stock-like appreciation
Why institutional investors continue increasing allocations despite concerning headlines
How diversification and manager selection can help reduce borrower-specific risks
Why long-term discipline often leads to better investment decisions than reacting to headlines
And more!
Resources:
Educational videos (bottom of the page)
Connect with Phil Huber:
LinkedIn: Phil Huber
Website: Cliffwater
Connect with Robert Curtiss:
rcurtiss@seia.com
(626) 795-2944
About Robert Curtiss
LinkedIn: Robert Curtiss
Facebook: Robert Curtiss
SEIA
LinkedIn: SEIA
About Our Guest:
Phil Huber, CFA, CFP®, is the Managing Director and Head of Portfolio Solutions at Cliffwater, where he focuses on research, portfolio construction, and helping advisors and investors better understand private markets and alternative investments. He regularly analyzes topics including private credit, private equity, and portfolio diversification, translating complex investment concepts into practical insights for long-term investors. Through his research and industry commentary, Phil helps financial professionals evaluate alternative investment opportunities within disciplined, diversified portfolio strategies.
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