In today’s episode, host Lynn Sautter Beal talks with Jillian Murrish, CEO of Pier Asset Management, about the waves she and her firm are making in the market — targeting less liquid and underserved areas while focusing on secondary markets and early-stage credit facilities. Jillian shares her journey from working in online real estate to co-founding Pier Asset Management, while offering valuable lessons on flexibility, operational ease, and evolving borrowing bases for early-stage originators along the way. Join us as we discuss: Why early-stage originators should avoid using expensive equity capital to fund loansThe change in defining secured vs. unsecured lendingHow targeting less liquid areas can help generate alpha and deliver better returns for investorsThe role of privacy, reputational risk, and the regulatory environment play in decision-making in evaluating potential partners and deals