Capital Solutions: A Flexible Response to Private Equity's Exit Problem
From Disruptive Forces in Investing by Neuberger Berman
June 9, 2026 · 26 min
About this episode
The episode discusses the challenges and opportunities in private equity and capital solutions amidst current market pressures.
Private credit headlines have been anxiety-inducing — but not all corners of private markets face the same pressures. Roughly $4 trillion in equity investments remain inside private equity funds awaiting exits, many acquired at elevated valuations during the low-rate era. For providers of scaled, flexible capital that sits between traditional debt and equity, that pressure creates opportunity. On this episode of Disruptive Forces, host Anu Rajakumar speaks with David Lyon, Managing Director and Head of Capital Solutions at Neuberger, who oversees approximately $10 billion in assets. Together, they discuss: What Capital Solutions is, and what it is not Why the panic around private credit and BDCs may be overstated How AI uncertainty is reshaping software valuations but has yet to trigger widespread defaults What separates hybrid capital from continuation vehicles and distressed investing Where the real opportunities sit for sponsors under pressure to generate DPI What investors should demand from managers in the hybrid capital space This communication is provided for informational and educational purposes only and nothing herein constitutes investment, legal, accounting or tax…
People in this episode
Host: Anu Rajakumar
Guest: David Lyon
Topics covered
- private equity
- capital solutions
- private credit
- investment opportunities
- hybrid capital
- software valuations
Keywords
- private equity
- capital solutions
- private credit
- investment opportunities
- hybrid capital
- software valuations
- DPI
- AI uncertainty
Mentioned in this episode
Organizations: Neuberger Berman, Neuberger
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