NAV loans are getting constant coverage in the press now. For those of us that spent years trying to direct focus to the potential of NAV lending, this is a welcome development. Admittedly, not all of the coverage is...more
In the private equity secondaries market, financing is often used to facilitate the purchase of portfolios of interests in private equity funds. These transactions require lenders to underwrite the value of assets that the...more
Between Omicron, the holidays, and down-to-the-wire end-of-year closings, it was a hectic finish to 2021. But now that the calendar reads 2022, we wanted to reflect this week on the state of the NAV finance market and provide...more
1/7/2022
/ Borrowers ,
Consumer Financial Products ,
Coronavirus/COVID-19 ,
Environmental Social & Governance (ESG) ,
Family Offices ,
Financial Markets ,
Financing ,
Infectious Diseases ,
Lenders ,
Libor ,
Loans ,
NAV ,
Private Equity Funds ,
Registered Investment Companies (RICs) ,
Secured Overnight Funding Rate (SOFR)
As the universe of asset-based and hybrid facilities continues to expand, fund finance lenders are increasingly encountering pledges of equity interests issued by funds or SPVs domiciled in popular jurisdictions outside of...more
With a surge in asset-based lending to private equity funds since the start of the pandemic and a historic run of IPO fundraising, it is not surprising that we are increasingly seeing post-IPO shares being pledged as...more