The Long View podcast titled
‘Be Very Wary of Illiquid Asset Classes’ features an interesting discussion
with Daniel Rasmussen, a hedge fund portfolio manager at Verdad Advisers.
Mr. Rasmussen believes Private Equity is the single biggest mistake that investors are making in markets today.
He states that Private Credit offers significantly higher yields due to much greater default risk (no
"free lunch").
The section pertaining to Private Equity and Private Credit begins at the 30:31 mark.
The entire podcast is worth listening to if you have the time...
https://www.morningstar.com/podcasts/the-long-view/9d04f752-4aea-4500-add5-af409f7129c4