“The markets are recognising the risks around longer-term inflation. I think it’s recognising the ballooning deficits of governments around the world,” says Chris Wright, CEO and president of Crescent Capital Group, on the latest episode of Credit Exchange with Lisa Lee, taped on 19 August 2026.

“What you’re seeing is the repricing of long-term assets based on a recognition of a higher inflationary rate going forward,” says Wright, who helms the global alternative investment firm with over $50 billion of AUM. And the financing of growth in a more uncertain market is getting more expensive, he contends.

Wright also discusses the tie-up of insurance firms and credit asset managers, and why that model has gained in popularity. Crescent is owned by insurance company SunLife. He also chats about corporate credit markets, artificial intelligence and the huge capital spending to support it, and the evolution of private credit funds.