On 25 July 2024, the Institutional Limited Partners Association ("ILPA") published guidance (the "Guidance") on the use of net asset value ("NAV") facilities. The Guidance specifically applies to private equity funds and does...more
8/9/2024
/ Borrowing Statutes ,
Consent ,
Documentation ,
Institutional Limited Partners Association (ILPA) ,
Investors ,
Lenders ,
LPAC ,
NAV ,
New Guidance ,
Real Estate Market ,
Special Purpose Vehicles
In the middle of 2023, we conducted an informal, small-scale survey to gather insights from prominent non-bank lenders on their activity in the net asset value (NAV) lending market for the first half of 2023. We have expanded...more
“GPs should remain thoughtful about employing leverage on their GP-led secondaries transactions given the higher interest rate environment. However, there are a variety of financing products on offer from lenders which can be...more
Recent press coverage has brought to light allegations of fraud in relation to a subscription credit facility made available to a fund managed by a Florida-based private equity fund manager, JES Global Capital. The...more