arXiv:2611.09409v1 Announce Type: new Abstract: We study linear precoder design for multi-user MIMO downlink under per-antenna power constraints (PAPC), which arise naturally when each antenna port has its own power amplifier. While the Moore-Penrose pseudo-inverse is the unique optimal generalized inverse for zero-forcing precoding under a total power constraint [1], we prove this optimality does not extend to the MMSE/RZF case under PAPC. Any precoder in the Generalized Inverse Matrix (GIM) family shares the same effective channel and per-user SINRs as the pseudo-inverse baseline, while its null-space component reshapes the per-antenna power profile. This separation principle enables minimising peak per-antenna power at fixed SINR targets with zero SINR penalty. We characterise the convex peak-power problem over this family and its active-set optimality, establish MRT and ZF asymptotic limits, and provide a convergent first-order subgradient algorithm. Simulations with 8-64 antennas confirm gains of 1.9-3.7 dB over pseudo-inverse RZF, with GIM-MMSE eliminating essentially all PAPC violations up to 20% per-antenna budget imbalance. The framework applies directly to fully-digital massive MIMO. Cell-free and hybrid analog-digital arrays are promising extensions.