At the Milken Institute Global Conference 2026, Worth Media Group CEO Josh Kampel sits down with John Vibert, Head of Credit at PGIM, to discuss the growing concerns surrounding private credit — and why market volatility may actually be creating new opportunities.
As headlines warn about rising defaults and stress in the market, Vibert explains why much of the concern may be misunderstood.
The conversation explores:
- What’s really happening inside private credit markets
- Why defaults in direct lending may be “entirely understood”
- How volatility is reshaping risk premiums
- Why some investors are looking to “buy the dip”
- The difference between public and private credit exposure
- Where institutional capital is moving next
John also explains why PGIM merged its public and private credit businesses — and why understanding the full “credit continuum” may become increasingly important for investors navigating the next market cycle.
A fascinating look at risk, opportunity, and the future of credit markets from one of the world’s largest asset managers.
Participants
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