private credit Archives - Wakeman Consulting Group

The Three Mirages: Why Organizations Chase the Wrong Targets

There’s a feeling we are all familiar with. Working hard. Growing. Adding clients. Opening offices. Can’t quite keep up. But something feels off. Like you are chasing something elusive. Likely a mirage…I’ve identified three that seduce more organizations than anything else. The Money Mirage: “Growth” becomes “success.” Revenue. Headcount. New markets. New offices. Measurable. Addictive. […]

The Extraction Economy vs. Value Creating Organizations

Everyone seems to feel like the economy is broken. No hiring. Job losses. Everything costs more. Tough times all around. I have a name for what’s broken. The Extraction Economy. This is the system where insiders design the rules to capture value created by outsiders. Opacity, asymmetry, short-term optimization…all in service of building moats around […]

Trading One Risk for Another

The Fed is proposing new rules to allow big banks to hold billions less in capital. The reason? To keep lending from migrating to private credit. Interesting timing. Private credit is having a moment. Blue Owl halted redemptions. Western Alliance is suing Jefferies. Investors are nervous. So…the plan is to make banks safer by…letting them […]

The Narrative Economy of Finance

Why Blue Owl and Bill Ackman sell stories you want to believe—and what the numbers actually reveal. Blue Owl and Bill Ackman sell stories you want to believe…but what do the numbers really say? Finance loves a narrative. Bitcoin will replace gold. “Housing prices never go down.” Tulip bulbs traded for houses. The internet “changes […]

$1.7 Trillion and the Question No One Asked…

Strategy is everywhere. In the arts. Sports. Government. Even finance. The quiet decisions that make an organization thrive or drift. Most people saw Blue Owl’s recent headlines about a $1.4 billion loan sale and halted redemptions and thought…liquidity. I saw strategy. Or, the lack of one. A $1.7 trillion industry that hasn’t answered the only question […]