Private debt needs to get better at explaining itself as the $1.6 trillion asset class goes mainstream, according to James Reynolds, global head of direct lending at Goldman Sachs. “We collectively need to just demystify what we do — which is in simple words, lending to corporates,” Reynolds tells Bloomberg News’ Lisa Lee and James Crombie and Bloomberg Intelligence’s David Havens in the latest Credit Edge podcast. Goldman wants to double the size of its $110 billion private credit business. Reynolds sees growth opportunities in Asia, investment-grade loans and leveraged finance, as well as more secondary trade in private debt. Also in this episode, BI’s Havens analyzes the rush by business development companies (BCDs) to go public as valuations soar. See omnystudio.com/listener for privacy information.