Dan Pazar, a senior member of the investment team at Taiber Kosmala and Associates LLC, guides his clients through the dynamics of alternatives. In this episode, Dan and host, Brian Resnick, discuss liquidity, the importance of manager selection and getting comfortable navigating risk. Dan's insights create a deeper understanding of the nuances and protections available when investing in private credit markets – from direct lending to asset-based finance to infrastructure investing.

This podcast is for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security, fund, or strategy. Views are as of the recording date and may change. Private credit involves significant risks, including illiquidity, credit loss, valuation uncertainty, leverage, and limited transparency. Any market data discussed should not be relied on as a forecast or guarantee.

Note to All Readers: The information contained here reflects the views of AllianceBernstein L.P. or its affiliates and sources it believes are reliable as of the date of this podcast. AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

Asset-based finance is one of the fastest growing segments in private credit. These are assets we all know and experience in the real economy – from mortgages to consumer credit to auto loans. From an investor perspective, the appeal is diversification through bespoke structures, granular portfolios and cash-flowing or income-producing assets. Find out why asset-based finance is trending in this quick take.

This podcast is for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security, fund, or strategy. Views are as of the recording date and may change. Private credit involves significant risks, including illiquidity, credit loss, valuation uncertainty, leverage, and limited transparency. Any market data discussed should not be relied on as a forecast or guarantee.

Note to All Readers: The information contained here reflects the views of AllianceBernstein L.P. or its affiliates and sources it believes are reliable as of the date of this podcast. AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

In this episode of Uncommon Capital, Brian Resnick speaks with Noel Archard, AllianceBernstein's Global Head of Product Solutions and Marketing, about the evolution of investment vehicles and what it means for access to alternatives. The conversation explores the strengths and limits of ETFs, the role of semi-liquid structures like interval funds, how model portfolios and UMAs can help advisors incorporate less-liquid investments, and why tokenization may improve market efficiency without necessarily creating liquidity.

This podcast is for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security, fund, or strategy. Views are as of the recording date and may change. Private credit involves significant risks, including illiquidity, credit loss, valuation uncertainty, leverage, and limited transparency. Any market data discussed should not be relied on as a forecast or guarantee.

Note to All Readers: The information contained here reflects the views of AllianceBernstein L.P. or its affiliates and sources it believes are reliable as of the date of this podcast. AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.