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NAV & Preferred Equity
From a regional banking crisis to regulatory scrutiny, here are five trends set to shape the course of an industry.
NAV financing emerges as a beneficial tool to reduce risks and stimulate growth for investors, say IQ-EQ’s Emma Crabtree and Justin Partington.
Despite initial criticism, NAV loans are gradually being seen as an important financing tool for sponsors, says Doug Cruikshank, managing partner and founder of Hark Capital.
Could a lack of expertise curtail the growth of the fund finance market?
Trade group calls for LPAC consent in some cases, and for new fund documents to cover usage and limits.
The facility would be intended to support value accretive add-ons rather than to distribute capital to investors.
Teams will fall under joint leadership, with industry vet Jeff Johnston as head.
NAV’s inherent synergies with secondaries means the strategy is gaining significant traction among East Asian LPs.
The private credit manager also opened a new office in Dubai.
Citco report finds only around 15% of NAV loans are used for LP distributions.