Private Credit: A Decade Later, Time for Spring Cleaning?

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Ms. Koch is President and Chief Executive Officer of TCW and serves as a member of the Board of Directors. In this role, she is responsible for the strategic direction and overall day-to-day management of the Firm. Prior to joining TCW in 2023, Ms. Koch spent 20 years with Goldman Sachs in the Asset Management Division (AMD), where she was a Partner and most recently served as Chief Investment Officer of the $300 billion Public Equity business and as a member of the AMD executive committee. Previously, she was based in London for 10 years where she held several leadership roles, including Head of the Multi-Asset Solutions business internationally. Ms. Koch currently serves as a board member for Nasdaq Inc., the University of Notre Dame’s Board of Trustees, The Investment Fund for Foundations (TIFF), The Investment Company Institute (ICI), the Toigo Foundation, and The Spence School. She also serves as a Co-Chair of the University of Notre Dame Wall Street Leadership Committee and as a member of the advisory board of the Notre Dame Institute for Global Investing (NDIGI). Ms. Koch was named a Young Global Leader with the World Economic Forum. Ms. Koch earned her Bachelor of Arts degree in Economics and Literature at the University of Notre Dame.

Mr. deVeer is a Director, Partner, and Co-President of Ares Management Corporation. He is a Co-Chair of the Ares Operating Committee. He also serves as a Director and Executive Vice President of Ares Capital Corporation and previously served as Chief Executive Officer of Ares Capital Corporation from July 2014 to April 2025. Mr. deVeer is a member of a number of Ares Investment Committees, including for the Ares U.S. Direct Lending, European Direct Lending, Pathfinder, and Insurance Solutions strategies. He may from time to time serve as an officer, director, or principal of other entities affiliated with Ares Management or investment funds managed by Ares Management and its affiliates. Previously, Mr. deVeer served as Head of the Ares Credit Group until 2025. Prior to joining Ares in 2004, Mr. deVeer was a partner at RBC Capital Partners, a division of Royal Bank of Canada, which led the firm's middle market financing and principal investment business. Mr. deVeer joined RBC in October 2001 from Indosuez Capital, where he was a Vice President in the Merchant Banking Group. Mr. deVeer began his career at J.P. Morgan & Co., working in both the Special Investment Group of J.P. Morgan Investment Management, Inc. and, prior to that, in the Investment Banking Division of J.P. Morgan Securities Inc. Mr. deVeer received a B.A. from Yale University and an M.B.A. from Stanford University's Graduate School of Business.