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NAV and GP funding lines have joined subscription facilities as legitimate liquidity tools across private markets.
The fund finance industry is experiencing exponential growth, but there are a number of issues that borrowers need to address
Joshua Cherry-Seto, CFO at Blue Wolf Capital, believes subscription lines are a critical part of working capital.
As NAV loans become increasingly popular, more lenders have entered the space, says Richard Wheelahan, co-founder of Fund Finance Partners.
NAV finance wasn’t invented yesterday, but it’s becoming a valuable tool in any GP’s toolbox, says Hark Capital’s managing partner and founder, Doug Cruikshank.
There will be no slowdown in demand for GP and NAV financing, even as the economy falters, say head of BC Partners Credit Ted Goldthorpe and operating partner Tom Glover.
Only two years ago, the accepted ceiling for the subscription line market globally was $500bn, a figure now seen as wildly underestimated. Meanwhile, NAV financing is poised for meteoric growth
Fund finance provides a rich variety of liquidity options, say Cadwalader’s Samantha Hutchinson, Michael Hubbard, Angela Batterson and Brian Foster
What does the future hold for NAV-based lending? Dave Philipp of Crestline Investors is confident the market will continue to grow, buoyed by four key trends
NAV financing can be utilized by GPs at both the fund and management company levels, while LPs are increasingly accessing the market to fund commitments and rebalance portfolios, says 17Capital managing partner Robert de Corainville.