The Real Role of Private Credit in Portfolios with Tod Trabocco (Ep. 86)
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When most investors think about private credit, they picture direct lending. But as Tod Trabocco, Head of Private Debt Advisory at StepStone Group, makes clear, it’s much more nuanced than that.
With over two decades in the space, Tod walks us through the four silos of private credit, including corporate, asset-based, asset-backed, and risk-sharing strategies, using unforgettable examples like leasing aircraft and monetizing Van Halen’s music catalog.
Listeners will learn:
- Why private credit offers control that public markets don’t
- How bilateral negotiation changes risk dynamics
- What recent high-profile defaults reveal (and what they don’t)
- Why institutions are doubling down on asset-based finance
- And more!
Resources:
Connect with Tod Trabocco:
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:
Mr. Trabocco is Head of Private Debt Advisory for StepStone Private Debt. He is responsible for helping public and private pension plans, endowments, and foundations build private credit portfolios and sits on the Private Debt Advisory Investment Committee.
Prior to joining StepStone Private Debt, Mr. Trabocco served as a consultant and product specialist at Aksia, where he sat on the firm’s credit fund investment committee. Prior to Aksia, he served as Head of Product for ITE Management, a leading transportation leasing fund. Prior to that, he was Cambridge Associate’s first Head of Private Credit, and chaired that firm’s Credit Investment Committee. He began his career in private credit in 2005 as Head of Research and Underwriting for LBC Credit Partners, now CIFC’s direct lending unit.
He holds an MBA from Columbia Business School and a MALD from the Fletcher School of Law and Diplomacy at Tufts University.