Subject: Re: PE Lending & Bank Lending
c. The private equity loans are non-recourse. Non-recourse means the respective company can say, sorry, I can no longer make loan payments, and there is no string to the owner's assets for the private equity firm to pull on to bring back their investment.
d. The private equity loans are issued at competitive rates to the bank.

Sounds like Private Credit rather than Private Equity. Private credit has been growing steadily since the end of the GFC. There is concern that Private Credit could pose some systemic risks - https://www.brookings.edu/arti...

I had written a long 4 paragraph reply, but it got eaten by the browser before I could post it. Darn!