Rowan notes the levered loan market now has ETFs and mutual funds that are taken for granted.
“And lo and behold, we take for granted that the broadly syndicated market trades. We have ETFs. We have open end mutual funds.”
Rowan argues the boundary between public and private markets is currently in transition.
“We don't think of them as private anymore. This notion of what's public and what's private, I think, is in transition.”