
The Legal Catbird Seat: How Data and AI Are Reshaping Private Credit and Fund Finance - Matt Schwartz - Global Finance Group Leader & Co-Head of Private Credit - DLA Piper
The Distribution by Juniper SquareShow Notes
Brandon Sedloff and Matt Schwartz explore the evolution of fund finance and private credit on The Distribution. Matt shares insights from his two decades in legal finance, including his journey from representing venture debt transactions to overseeing one of the world's largest law firm finance practices. The conversation examines how the financing landscape has fundamentally shifted over the past decade, with private credit funds taking on more complex transactions while banks have moved into back-leverage arrangements. Matt emphasizes the critical role of data strategy and AI adoption in modern fund operations, noting how GPs are using technology to improve underwriting and portfolio management.
They discuss:
- Why traditional underwriting standards are returning and how data analytics are improving investment decisions
- How banks and private credit funds are increasingly collaborating rather than competing on deals
- The role of insurance capital and hybrid structures in expanding fund finance options
- Whether retail investors can successfully participate in illiquid private credit markets as valuation tools improve
- Why technology and life sciences remain strong despite headlines suggesting otherwise
This episode offers fund managers and private market professionals a clear-eyed view of where capital is flowing and how operational improvements can create competitive advantages.
Topics:
(00:00:00) - Intro
(00:00:53) - Welcome and guest introduction
(00:03:17) - Matt's journey into law
(00:07:15) - Landing in San Diego and building a practice
(00:10:00) - Leading DLA Piper's finance practice
(00:16:40) - Data and operational alpha for GPs
(00:25:00) - AI adoption and compliance
(00:27:40) - Fund finance and private credit landscape
(00:38:30) - AI's impact on vertical SaaS companies
(00:41:36) - Underwriting discipline and data usage
(00:47:30) - The next cycle in private credit
(00:51:00) - Retail capital and LP allocation shifts
(00:54:00) - Closing
Links:
Matt on LinkedIn - https://www.linkedin.com/in/matt-schwartz-15576617/
DLA Piper - https://www.dlapiper.com/en/
Juniper Square - https://www.junipersquare.com/
Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/
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