While the market for NAV financings—loans to funds supported by the net asset value of their portfolios—grew in 2023 and continues to rapidly evolve, a consensus has developed around what is sometimes referred to as a “Holdco...more
5/1/2024
/ Borrowers ,
Collateral ,
Financial Services Industry ,
Financing ,
Investors ,
Lenders ,
Limited Partnership Agreements ,
Loans ,
NAV ,
Portfolio Companies ,
Tax Exempt Entities
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