Hedge funds are clashing with California regulators over wildfire subrogation claims and the fallout could reshape how distressed assets interact with public recovery funds. Jason and Kevin unpack the PG&E playbook, state-level backlash, and who’s really getting paid (01:30). Then Yale’s $6B endowment unwind takes center stage, as the Ivy League titan quietly tests the secondaries market with Project Gatsby, raising questions about long-term conviction and short-term liquidity (13:20). Kent and Julian return (25:15) to explain why Clear Lake’s sponsor tactics are showing up across multiple LMEs and what the data tells us about repeat offenders, CLO constraints, and creditor fatigue. Closing it out: we head into the world of Stick on Apple TV+ (34:43) part golf drama, part emotional softboy therapy session to explore what the show says about masculinity, generational rewiring, and why Happy Gilmore might’ve done it better. Plus, a little talk about personal happy places, ice lakes in Sweden, and sainthood (49:00)

----more----

Hosted by Jason Sanjana & Kevin Eckhardt
Segment Guests - Kent Collier, Julian Bulaon
Produced and edited by Tanya Hubbard
A Production of The Octus Podcast Network

EP 09 | Wildfires, Yale’s $6B Exit & the Emotional Therapy of Stick