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We are thrilled to present a SPECIAL EDITION of The Wall Street Skinny. This episode, recorded live at Carlyle’s NYC offices, is a candid interview with one of our most impressive (yet shockingly down-to-earth) guests to-date: Shane Clifford, Carlyle’s Head of Global Wealth.

If you’re wondering how “Global Wealth” fits into one of the world’s most prestigious private equity mega funds, you’re not alone. We set the record straight about what Global Wealth is, how it relates to the rest of the business, and how it is reshaping the investing landscape. Historically, access to private markets was typically reserved for institutional investors. Today, Carlyle is opening select private market capabilities to the wealth channel, all while raising the bar on transparency and education.

We discuss the shifting market environment, explain why the term “alternatives” has become anachronistic, and dig into what “responsible democratization” really requires: specific fund structures (think evergreen/perpetual vs. interval funds), liquidity education, disclosure, and portfolio construction that behaves differently than it does in the public markets.

Shane explains areas which areas he thinks may see the most growth in the near term, and we dig into what allowing individuals to access the private capital markets via defined contribution plans (i.e., 401(k) investments) *might* mean for everyday investors should those changes come to pass.

This is also a “Distribution 101” playbook, where we learn the ropes of a career path that wasn’t even an option to us during our time in the industry.

Finally, Shane shares practical career and storytelling advice for emerging talent (hello, Gen Z), why persistence beats perfect résumés, and how social media is changing distribution. Bonus: a peek at Carlyle × Oracle Red Bull Racing, plus a stat we loved: nearly 50% of assets at Carlyle are managed by female investors.

If you advise clients or want to work in the private capital ecosystem, take note. Carlyle is changing how the world accesses the private markets, and this episode will change how you think about private capital altogether.

The information provided in this podcast is for informational and educational purposes only and should not be construed as investment, financial, legal, or tax advice.

Shop our Self Paced Courses:

Investment Banking & Private Equity Fundamentals HERE
Fixed Income Sales & Trading HERE

Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others’ experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

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In this week’s episode, we get into the Fed’s 25 basis point rate cut, Powell’s chaotic press conference before diving into Meta’s creative data center financing which is a lesson on project financing and lease accounting, and finally the growing blur between public and private credit.

The Fed’s October meeting delivered the expected 25 bps cut but Powell’s tone afterward left markets rattled. While announcing a pause in quantitative tightening, he hinted that December isn’t a done deal, sparking confusion and volatility. Jen breaks down the mechanics behind QT, the Fed’s balance sheet strategy, and why even subtle changes in how they handle T-bill reinvestments could ripple across the yield curve.

Then we shift to earnings season and Meta’s fascinating case study in project finance. Their $30 billion Hyperion data center project with Blue Owl blends corporate finance, lease accounting, and private credit innovation, raising questions about off-balance-sheet leverage, credit spreads, and who really wins in these structures.

We wrap with thoughts on how every firm on Wall Street is morphing into everything else—private credit arms at hedge funds, PE firms doing lending, and why that might both dilute and amplify systemic risk. All that, plus Halloween costumes, pumpkin parades, and the realities of parenting in chaos.

For 20% off Deleteme, use the code TWSS or click the link HERE!

Shop our Self Paced Courses:

Investment Banking & Private Equity Fundamentals HERE
Fixed Income Sales & Trading HERE

Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. (Learn more HERE)

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This week, we’re joined by Paul Dodd, Senior Operating Partner and Head of Go-to-Market Operations at Sixth Street, one of the most respected private credit and private equity firms in the world. This episode is Part 2 of our Business Operations 101 series, and we’re digging into how firms like Sixth Street actually create value inside the companies they invest in. Paul specializes in helping tech and SaaS businesses scale efficiently, so instead of talking about dealmaking, we’re talking about what happens after the deal closes: how to turn strategy into growth.

Paul walks us through what “go-to-market” really means in practice, from aligning sales and marketing to optimizing customer retention and pricing. He explains how small operational improvements, like shortening onboarding time or using AI to coach sales teams, compound into massive enterprise value during the investment period. We also get into how Sixth Street’s operating and deal teams work hand-in-hand, why culture and process discipline matter as much as capital, and how flexibility in capital structure allows them to back great companies through every stage of growth.

And finally, we tackle the viral headline of the week: OpenAI is hiring ex–investment banking analysts and MBAs to remove the "drudgery" of junior banking work. We break down whether AI can really replace analysts, why building financial models is still critical to learning the business, and what it means for the future of entry-level Wall Street jobs.

Paul Dodd is a Go-to-Market, Operating Partner at Sixth Street focused on providing core expertise to organizations in order to maximize revenue generation and profitable growth.

Before joining Sixth Street, Paul served as Chief Growth Officer at SecureLink, SVP of Sales for Compeat Tech, Head of Sales for the GA360 Measurement Suite at Google, and previously served as Vice President of World Wide Sales at Adometry, a leading provider of multi-touch attribution & cross-channel intelligence, acquired by Google in 2014. Before Adometry, Paul served as Vice President of Sales for Retail at Bazaarvoice and as Chief Strategy & Global Sales Officers for Design Reactor/6Connex.

He holds an MBA from Baylor University-Hankamer School of Business, an M.A. in Psychology from the University of Santa Monica, and a B.A. in A

Shop our Self Paced Courses:

Investment Banking & Private Equity Fundamentals HERE
Fixed Income Sales & Trading HERE

Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others’ experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.