PRIVATE EQUITY DEBT QUESTION
Okay, I may be showing my naivete on this question, but how does a PE firm obtain non-recourse debt? Let's say I spin out of a larger fund and have no Billion dollar family office behind me and no capital partners that have a net worth to backstop a $30M Enterprise Value investment. I am aware of debt funds, but most of the ones I have worked with are usually a combination of mezzanine debt and equity. Thus, how is non-recourse debt obtained in a transaction of this size (or smaller or larger)?
Thanks in advance.