#318 - Jillian Murrish - Co-Founder @ Pier Asset Management - Speciality Finance Makes The World Go Round

Jillian Murrish is Co-founder and CEO of Pier Asset Management, where she manages the firm and heads business development. Before founding Pier, Jillian was EVP of Capital Markets at Patch of Land and an investment banker at Houlihan Lokey. On this episode, Chris and Jillian discuss: Senior Credit Facilities Litigation Finance Underwriting risk Consumer Loan defaults Why private credit firms should not be regulated like banks We'd appreciate you filling out our audience survey, so we can continuously work on providing relevant content to our listeners.  https://www.thefortpod.com/survey Links Jillian on Twitter Pier Asset Management Topics (00:00:00) Intro (00:01:30) Jillian’s background and career (00:10:39) Getting great prices for great assets vs. great prices for messy assets (00:15:24) Providing senior credit facilities (00:16:39) Why would someone borrow from you vs. a bank? (00:19:28) Do you have a capacity of how much you can lend? (00:21:58) Litigation Finance (00:33:42) How are you sourcing deals? (00:35:11) Are there common traits in deals that allow you to underwrite risk? (00:37:53) Music royalties (00:44:05) What are you seeing in today’s environment? (00:46:14) Is the consumer paying their loans? (00:49:07) What’s the shortest duration you want to be in a loan for? (00:50:39) What’s happening in the auto loan world? (00:56:17) How do you think about secured vs. unsecured notes? (00:58:23) What % of deals do you write that you need to repo?  (00:59:19) Why and why not private credit firms should be regulated like a bank (01:01:43) Do you have a favorite story when it comes to a non-performing loan? (01:03:07) What gave you the entrepreneurial bug? Support our Sponsors Fort Capital: https://bit.ly/FortCapital Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ Chris on Social Media: Twitter: https://bit.ly/3BYIjcH LinkedIn: https://bit.ly/45gIkFd   Watch The Fort on YouTube: https://bit.ly/3oynxNX Visit our website: https://bit.ly/43SOvys Leave a review on Apple: https://bit.ly/45crFD0 Leave a review on Spotify: https://bit.ly/3Krl9jO  The FORT is produced by Johnny Podcasts

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The Fort is an entrepreneurship podcast. Here, we uncover the proven strategies, insights, and inspiring stories of today’s greatest leaders in the worlds of business, real estate, entrepreneurship, and investing. Each episode’s mission is to help you to level up your entrepreneurial game by hearing directly from the men and women in the arena. Chris is able to uniquely uncover things not commonly discussed because he is an entrepreneur himself. We not only cover business, but we also cover the personal side of entrepreneurship. The Fort began in 2018 as a way for Chris to publicly explore the fascinating world of entrepreneurship. Since he was a child, he’s been characterized as obsessively curious about the world around him.  The Fort has now been downloaded over 2M times, across more than 50,000 unique listeners. Each week features conversations with entrepreneurs, Founders, CEOs, and Executives from some of the leading companies in America. Past guests have represented companies such as JLL, Hillwood, S2 Capital, Chick Fil A, Morning Brew, Founders Podcast, Tiny Capital, Permanent Equity, Fort Capital, Matthews REIS, Bonobos, and ConvertKit. 🐦 Follow Chris on Twitter: www.twitter.com/FortWorthChris 💡 Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ 📹 Subscribe to The FORT on YouTube: https://www.youtube.com/@FORTpod