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The forces redefining credit
After a groundbreaking debut in 2025, Credit Frontiers returns to define the next era of private credit. As this dynamic asset class cements its place at the heart of global finance, today’s markets demand fresh thinking and resilient strategies.
This year’s event is your opportunity to:
- Hear from global powerhouses, local market leaders, and top Moody’s analysts
- Dive deep into the forces reshaping private credit: systemic risk, market convergence, retailization, and the rise of asset-based finance
- Gain actionable insights to navigate volatility and seize new opportunities
From New York to London, connect insights across continents and navigate private credit’s next frontier. Be part of the conversation.
Themes in Focus
Who attends
- C‑Suite leaders & senior executives
- Institutional investors & portfolio managers
- Private debt & direct lending executives
- Fund finance & banking executives
- CLO investors & structured credit managers
- Legal, regulatory & advisory professionals
If you have any questions about the event, please contact Emma Grant at emma.grant@moodys.com.
In conversation: Jon Gray & Marc Pinto
Jon Gray
President & COO
Blackstone
Marc Pinto
Managing Director,
Global Head of Private Credit
Moody's Ratings
Why Attend?
Step inside the conversation driving market evolution
Build connections that matter
Interactive and data-led sessions
Featured Speakers
Nathan Houdek
Commissioner of Insurance, State of Wisconsin
Chair, National Association of Insurance Commissioners (NAIC) Financial Condition (E) Committee
Steve Flantsbaum
Branch Chief, Analytics Office, Division of Investment Management
U.S. Securities & Exchange Commission
Venue
Quorum by Convene
10020 New York
NY
United States
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closeJonathan (“Jon”) Gray is President & Chief Operating Officer of Blackstone and is a member of the Board of Directors. He sits on the firm’s Management Committee and nearly all of its investment committees.
Mr. Gray was appointed to his current role in 2018. Since that time, Blackstone’s assets under management have nearly tripled to over $1.2 trillion, as the firm has greatly expanded the breadth of clients it serves, including insurance companies and individual investors.
Mr. Gray previously led Blackstone’s Real Estate business, which he helped build into the largest commercial real estate platform in the world. He joined Blackstone in 1992 in the M&A and Private Equity areas.
Mr. Gray has served as Chairman of the Board of Directors of Hilton Worldwide since 2007, and is also on the board of XRG.
He and his wife, Mindy, established the Basser Center for BRCA at the University of Pennsylvania School of Medicine in 2012 focused on the prevention and treatment of BRCA-related cancers. They have also established numerous programs for low-income children in New York, including creating NYC Kids RISE, a college savings initiative provided to every NYC public school kindergartner. The Grays have been named to The Chronicle of Philanthropy’s list of the largest donors in the U.S.
Mr. Gray received a BS in Economics from the Wharton School, as well as a BA in English from the College of Arts and Sciences at the University of Pennsylvania
Mr. Ensminger-Law is a managing director and portfolio manager in the New York office. His responsibilities include sourcing and underwriting specialty finance and asset-based investments in the U.S. Prior to joining PIMCO in 2018, he was an analyst at Claren Road with a focus on structured credit and specialty finance investments. Mr. Ensminger-Law previously worked at Citigroup in the U.S. and Asia, focusing on structured finance, securitized products, and credit derivatives. He began his career at MMC, where he worked in a variety of roles focused on structured insurance and reinsurance transactions. He has 24 years of investment experience and holds an MBA from the University of Virginia and a bachelor's degree from Brown University.
Eric W. Partlan is the Chief Investment Officer of Massachusetts Mutual Life Insurance Company (MassMutual), headquartered in Springfield, Massachusetts. Eric is responsible for MassMutual’s overall investment strategy and has oversight of the company’s General Investment Account (GIA).
Before assuming the role of Chief Investment Officer in March 2023, Eric served as Head of Portfolio Management for MassMutual for over a decade, where he led a team responsible for the company’s global asset allocation, asset liability management, overall portfolio hedging, and quantitative research and development. In addition, Eric was Chief Investment Officer for MassMutual International and is Chief Investment Officer for MassMutual Ascend. In 2010, Eric was named Head of Investment Risk at MassMutual, where he was instrumental in developing the company’s approach to assessing and mitigating risk within its GIA. Eric joined Babson Capital Management, a former MassMutual subsidiary that is now part of Barings, in 2004, where he was a Managing Director of the Structured Credit Products Group. Prior to joining MassMutual, Eric held several engineering roles at companies including The Boeing Company and B/E Aerospace.
Eric, a certified Chartered Alternative Investment Analyst (CAIA) and Chartered Financial Analyst (CFA), is a graduate of Michigan State University with bachelor’s degrees in accounting and mechanical engineering. He earned his master’s degrees in business administration and mechanical engineering from Massachusetts Institute of Technology as well as a master’s degree in industrial engineering from Georgia Institute of Technology.
Marc C. Ganzi is Chief Executive Officer at DigitalBridge and has been an investor and operator in the digital infrastructure sector for more than 25 years. Mr Ganzi has led DigitalBridge’s transformation to become a premier platform for digital infrastructure and real estate investment.
Mr Ganzi originally founded Digital Bridge Holdings in 2013 and, as its CEO, built the firm into a leading global manager of digital infrastructure assets with more than 20 billion in AUM, until its merger in July 2019 into the current public company, DigitalBridge Group, Inc.
Previously, Mr Ganzi founded Global Tower Partners (GTP), which grew to become one of the largest privately owned tower companies in the U. S., before being acquired by American Tower Corporation in 2013 for 4 8 billion. At GTP, Mr Ganzi executed a series of strategic acquisitions, build-to-suit agreements with wireless carriers and financings in the credit markets.
Prior to the formation of GTP, Mr Ganzi worked as a consulting partner for DB Capital Partners from 2000 to 2002 where he oversaw the institution’s investments in the Latin American tower sector. Before joining DB Capital, Mr Ganzi co-founded and served as President of Apex Site Management, one of the largest third party managers of wireless and wireline communication sites in the United States. In 2000 Apex merged with SpectraSite Communications to create one of the largest telecommunications site portfolios in the United States at the time.
In 1990, Mr Ganzi served as an assistant Commercial Attaché in Madrid for the U S Department of Commerce’s Foreign Commercial Service Department. He also served as a Presidential Intern in the White House for the George H W Bush administration with the Office of Special Activities and Initiatives for the Honorable Stephen M Studdert in 1989.
Mr Ganzi received a Bachelor of Science from the Wharton School of Business in 1993. He was a Board Member of the Wireless Infrastructure Association from 2008 to 2017 and served as Chairman from 2009 to 2011. He is a member of the Young Presidents’ Organization and the Broadband Deployment Advisory Committee of the Federal Communications Commission.
Mike Paniwozik is a Partner, Global Head of Structured Credit Investing at Apollo and President of the Apollo Asset Backed Credit Company. Additionally, Mike is an investment committee member for Asset-Backed Finance, S3 Credit Secondaries, and Credit Large Investments, as well as member of the Asset Backed Credit Operating Committee for Apollo Manager, LLC. Prior to joining in 2015, Mike was a Managing Director at Napier Park Global Capital. He began his career in the structured products group at Credit Suisse First Boston.
Mike received a BA in Economics, with honors, from the University of Chicago. He is a member of the Board of Trustees for the New Canaan Library.
Chris Condelles is the Chief Strategy and Corporate Development Officer and a member of the Management Committee at Future Standard. In this role,he sets the firm’s long-term strategic direction and leads enterprise-wide growth initiatives spanning M&A, strategic partnerships, and platform expansion.
Mr. Condelles also serves as Co-Head of the firm’s Bridge Street CLO platform,with over $2.2 billion in AUM, and oversees the capital markets group, which manages $27 billion of fund-level financing activity across credit, real estate and private equity strategies. He has held several senior leadership roles across the organization, including Chief Operating Officer and Deputy Chief Financial Officer.
Prior to joining Future Standard, Mr. Condelles served on the Executive Committee of Credit Suisse’s Global Credit Products division. There, he built and scaled businesses spanning structured credit investing, fund finance, and esoteric credit. He directly managed an $8 billion trading portfolio and served as Global Treasurer, with responsibility for balance sheet management, liquidity optimization, and capital deployment across a $50 billion portfolio.
Mr. Condelles holds a BS in Financial Economics from Binghamton University, an MBA with dual concentrations in Finance and Entrepreneurial Management from the Wharton School, and is a CFA charterholder.
He serves on the Board of the National Alliance on Mental Illness of New York City.
Nathan Houdek has served as Commissioner of Insurance for the State of Wisconsin since his appointment by Governor Tony Evers in January 2022. He previously served as Deputy Commissioner of Insurance for three years under former Commissioner Mark Afable.
Commissioner Houdek serves as the state's chief regulator of insurance and oversees the operations of the Office of the Commissioner of Insurance. He is also vice chair of the state Group Insurance Board and a board member of the Wisconsin Insurance Security Fund, the state's guaranty fund.
As a member of the National Association of Insurance Commissioners (NAIC), Commissioner Houdek currently serves as chair of the Financial Condition (E) Committee and the Big Data & Artificial Intelligence (H) Working Group, co-vice chair of the Risk Based Capital Model Governance (EX) Task Force, and as a member of the Life Insurance and Annuities (A) Committee, the International Insurance Relations (G) Committee, and various task forces and working groups.
Having spent over 20 years working in state legislative and regulatory affairs, Commissioner Houdek has extensive experience finding solutions to complex public policy and regulatory challenges across all lines of insurance. He has held several senior-level roles in the public and private sectors, including serving as a principal at one of Wisconsin's largest public affairs and business consulting firms and as chief of staff to a former minority leader in the Wisconsin State Senate.
Commissioner Houdek grew up in northern Wisconsin and earned his BA and MBA degrees from the University of Wisconsin-Madison.
Steve’s work focuses on a broad range of industry monitoring efforts, particularly on the private funds industry, business development companies (BDCs) and private and public credit matters. Steve joined the SEC in 2021 as the SEC’s industry specialist on Business Development Companies (BDCs) and became a Branch Chief in 2023. Prior to the SEC, Steve spent eight years at Blackstone where he was primarily focused on providing legal advice relating to formation, fundraising, co-investment transactions, corporate governance and compliance oversight of Blackstone’s BDCs (BCRED and BXSL). In addition, while at Blackstone, Steve worked on a variety of matters pertaining to private funds, private credit and syndicated loan transactions, public and private securities offerings, and investment company and advisory matters. Before Blackstone, Steve was an associate in the corporate group of Bingham McCutchen LLP (now Morgan, Lewis & Bockius LLP).
Gauhar Turmuhambetova, Managing Director, is a member of the Aladdin Financial Engineering and is the Global Head of AFE Security and Investment Modeling. She leads the global team of quantitative modelers responsible for the development and implementation of security models in structured products, rates and derivatives, public and private corporate credit. She also oversees development of liquidity and pricing models, as well as funds modeling.