# The Bridge Ep. 1: You Have to Structure the Deal Right—On the Buy

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Text version: https://stenobird.com/podcast/the-bridge-by-icapital-7851303/the-bridge-ep-1-you-have-to-structure-the-deal-right-on-the-buy.md
Podcast: [The Bridge by iCapital](https://stenobird.com/podcast/the-bridge-by-icapital-7851303)
Published: 2026-05-05T16:42:00+00:00
Episode link: https://thebridge.icapital.com/e/the-bridge-ep-1-you-have-to-structure-the-deal-right%e2%80%94on-the-buy/
Audio file: https://mgln.ai/e/p1185705/mcdn.podbean.com/mf/web/7dww2vy4kguzovf8/Bridge_Jack_Neumark-Multicam_Final-Podcast_revised.mp4
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JSON: https://stenobird.com/v1/public/podcasts/the-bridge-by-icapital-7851303/episodes/the-bridge-ep-1-you-have-to-structure-the-deal-right-on-the-buy
Duration seconds: 1647

## Resource

In this episode of The Bridge by iCapital, Fortress Co‑CEO Jack Neumark joins Sonali Basak, Chief Investment Strategist at iCapital, to unpack how private credit is changing, where risk is commonly misunderstood, and why structure, underwriting, and downside protection matter more than ever. From asset‑backed lending and real estate credit to the shifting role of banks and the return of lender leverage, Neumark offers a grounded view of where opportunity is emerging, and how disciplined investors are positioning for durability across cycles.

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## Transcript

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