Rephonic
Artwork for Pathways Podcast
Private Credit
Macquarie Asset Management
Digitalization
Data Centers
Infrastructure Debt
Inflation
Direct Lending
United States
Fiscal Policy
Artificial Intelligence
Energy Transition
Infrastructure
Economic Growth
Infrastructure Secondaries
Renewables
Decarbonization
Electric Vehicles
Transport Sector
Interest Rates
Clean Energy

Conversations and innovative insights about real assets, private markets and macroeconomics, intended for global institutional investors. Brought to you by Macquarie Asset Management (MAM), the asset management division of Macquarie Group Limited. This material is for information purposes only and should not be construed as, an advertisement, an invitation, an offer, a solicitation of an offer or ... more

PublishesMonthlyEpisodes27Founded4 years ago
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Artwork for Pathways Podcast

Latest Episodes

Core infrastructure has delivered an annualised return of 9.9% since March 2008, with volatility closer to bonds than to equities. So how much of a portfolio should it occupy? 

In this episode of Pathways, Daniel McCormack, Head of Research at Macqu... more

Private capital secondaries have gone from a niche liquidity tool to an asset class in their own right — and within secondaries, infrastructure is the fastest-growing corner of the market. In this episode of Pathways, Daniel McCormack, Macquarie Asse... more

For decades, the grid was the most boring, unseen part of the energy conversation — until now. In this episode of Pathways, Daniel McCormack, Head of Research at Macquarie Asset Management, is joined by Audrey Lee, Research Analyst and author of the ... more

In this episode of Pathways, Daniel McCormack is joined by Aizhan Meldebek, Macquarie Asset Management’s Global Infrastructure Strategist, to unpack the findings from her updated research on private infrastructure valuation multiples. Drawing on a pr... more

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Recent Guests

Wandy Hoh
Co-author of the team's paper on infrastructure secondaries
Macquarie Asset Management
Episode: Second(aries) to none: The springboard for private markets
Audrey Lee
Author of Grid Capex in the Age of Renewables and AI
Macquarie Asset Management
Episode: Power struggle: Why the grid can’t keep up
Andrew Olinick
Head of Private Equity and Adjacencies, MAM
Macquarie Asset Management
Episode: Infrastructure adjacencies: the specialist second layer
Harlan Cherniak
Head of Infrastructure Debt and Co-Head of Private Credit in the Americas
Macquarie Asset Management
Episode: Private Credit at a crossroads?
Jüergen Wurzer
Deputy Head of the Global Multi-Asset Team
Macquarie Asset Management
Episode: Investing across asset classes in a shifting world
Brett Lewthwaite
CIO and Head of Macquarie Asset Management Fixed Income
Macquarie Asset Management
Episode: An erosion of trust in an era of national policy musts?

Host

Daniel McCormack
Head of Research at Macquarie Asset Management, Daniel provides insights on various topics related to macroeconomics and private markets.

Chart Rankings

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Apple Podcasts
#12
Philippines/Business/Investing
Apple Podcasts
#65
Philippines/Business

Talking Points

Recent interactions between the hosts and their guests.

Power struggle: Why the grid can’t keep up
Q: What are the three main technologies behind data center power supply behind the meter and how do they fit different needs?
Gas turbines for scale with long lead times, fuel cells for fast response, and nuclear SMRs for long-term, high-capacity solutions; batteries increasingly fill the gap for fast connection and resilience.
Power struggle: Why the grid can’t keep up
Q: So at a regional level, what are the three genuinely different problems here that we need to think about?
In Europe, financing and politics; in India, timing; and in China, a state-led buildout that moves demand and supply with deliberate policy, but all share a fundamental problem of capacity limits and the need for payer support.
Power struggle: Why the grid can’t keep up
Q: Audrey, before we dig into the detail, if there was one sentence or one idea that you wanted the listeners to take away from today's podcast, what is that?
The grid is the bottleneck now; renewables are being added quickly, but the grid must be expanded and connected at the same pace, otherwise everything else waits on the grid.
Middle East tensions and investment implications for infrastructure
Q: What are the questions you are getting asked regarding the current conflict and what it means for infrastructure?
The main concerns revolve around near-term energy price spikes, potential inflation and GDP impacts depending on the duration of the crisis, and how different infrastructure sectors—from gas and power to renewables and grids—will be affected. The conversation emphasizes resilience in core assets, hedging in widely exposed sectors, and the role of regulation and contracts in protecting returns.
An erosion of trust in an era of national policy musts?
Q: Should investors be worried about the US bond market given the fiscal strain and policy shifts?
The guest suggests focusing on inflation as the key driver; if inflation remains controlled, there should be fiscal headroom to support liquidity; volatility is likely, but policy tools and gradual funding shifts can prevent a deep crisis, with opportunities arising from the volatility.

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Frequently Asked Questions About Pathways Podcast

What is Pathways Podcast about and what kind of topics does it cover?

This podcast features conversations that explore innovative insights into real assets, private markets, and macroeconomics, tailored for a global audience of institutional investors. The discussion covers various aspects of investment strategy, including direct lending, the impact of government policies on economies, and market trends in real estate and infrastructure. Notable episodes examine the implications of tariffs on trade, the future of fixed income investing, and the challenges posed by climate change in sectors like aviation. This content is particularly beneficial for listeners seeking deep analysis and nuanced perspectives on investment opportunities in the evolving financial landscape.

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Which podcasts are similar to Pathways Podcast?

These podcasts share a similar audience with Pathways Podcast:

1. The Infrastructure Investor Podcast
2. Private Equity Spotlight
3. NAB Morning Call
4. Chanticleer
5. The Fin

How many episodes of Pathways Podcast are there?

Pathways Podcast launched 4 years ago and published 27 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Pathways Podcast?

Recent guests on Pathways Podcast include:

1. Wandy Hoh
2. Audrey Lee
3. Andrew Olinick
4. Harlan Cherniak
5. Jüergen Wurzer
6. Brett Lewthwaite

To view more recent guests and their details, simply upgrade your Rephonic account. You'll also get access to a typical guest profile to help you decide if the show is worth pitching.

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