State of Private Credit – Third Point – 7.16.26

Summary:

Join us as we discuss:

• Current state of private credit markets and the opportunity set given recent volatility
• Overview of the TPPC approach — spanning direct lending, capital solutions, and Third Point’s broader multi-asset credit platform
• How Third Point Private Credit’s flexibility across sponsor, non-sponsor, and capital solutions strategies positions the BDC to deploy capital in the current environment
• Background on the platform build — including the direct lending team from New York Life Investments and the capital solutions team via the Birch Grove acquisition
• Preview of the inaugural BDC launch and what it means for Third Point’s private credit business

Speakers:

Mr. Loeb is CEO and Founder of Third Point LLC, an over $24 billion New York-based asset management firm started in 1995. Third Point’s flagship hedge fund invests in public equity and credit securities in the U.S. and international markets. Third Point also manages funds dedicated to corporate, structured, and private credit, and venture capital. In 2025, Third Point acquired Birch Grove, a diversified credit asset manager with an over $8 billion CLO business. Malibu Life Holdings, its licensed life and annuity (re)insurer, is listed on the London Stock Exchange.

Mr. Loeb is the Chairman of the Museum of Jewish Heritage. He is a member of the Council on Foreign Relations and a trustee of the Mount Sinai Health System, where he established the Ronald M. Loeb Center for Alzheimer’s disease in memory of his father. He is a Trustee and former Board Chair of Success Academies, a charter school network. Mr. Loeb was honored by the UJA Federation of New York with the Gustave L. Levy Award, awarded the Alexander Hamilton Award for his philanthropic service by the Manhattan Institute, and received Columbia University’s John Jay Award for Distinguished Professional Achievement. He graduated from Columbia University with an A.B. in economics.

Chris Taylor joined Third Point in 2023. After starting his career at Deloitte, Mr. Taylor joined New York Life Investments (NYLIM) in 2005 as a credit analyst and rose to CEO of Madison Capital Funding LLC, its private lending boutique, where he helped build the platform to over $15.0 billion in assets and oversaw a team of over 100 employees. Mr. Taylor was also the founding CEO of Apogem Capital, which merged Madison Capital and two other investment boutiques owned by NYLIM to create a single, fully integrated, alternative investment boutique focused on middle market private capital solutions, with ~$40.0B of AUM and over 200 employees. Mr. Taylor earned a Master of Science in Taxation and B.S. in Accounting from the University of Illinois Urbana-Champaign.

Jonathan Berger is the Chief Executive Officer and Chief Investment Officer of TP Birch Grove and the Co-Head of Credit of Third Point. Mr. Berger co-founded Birch Grove Capital, which was acquired by Third Point in 2025. Previously, Mr. Berger served as the President and Chief Investment Officer of Stone Tower Capital, Co-Founder and Partner at Pegasus Capital Advisors, Vice President in the High-Yield and Distressed Securities Group at UBS Securities, a Principal at Rosecliff, Inc., and an Associate in the Leveraged Finance Group at Salomon Brothers. Mr. Berger holds a B.S. From the Wharton School of the University of Pennsylvania.

Jennifer Cotton joined Third Point’s Private Credit team in 2024. Prior to joining Third Point, Ms. Cotton served as a Managing Director for Apogem Capital, a subsidiary of New York Life formed by the merger of three boutique investment firms, including Madison Capital Funding. Prior to the merger with Apogem Capital, she served nearly 15 years in positions of increasing responsibility for Madison Capital, a middle-market lender to private equity-backed companies. Ms. Cotton began her career in commercial lending at National City Bank. She earned a Master of Business Administration from the Simon Business School at the University of Rochester and a B.A. from the State University of New York College at Geneseo.