The Importance of Private Debt in the American Banking System

Private credit is buying private equity for 39 cents on the dollar. There's no leverage involved this is not a zero interest rate product. If you're able to come in and buy a viable company and private credit is patient they're not trying to flip one company to another while the pricing environment is still there. Then that company goes from being over levered in the private equity space to paying somebody a really good yield, which is going to truly fix its balance sheet.