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
Debt finance plays a key role in all parts of the capital structure for private investment funds and their investors. In particular, the use of debt finance is an increasingly important component of secondary transactions,...more
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
We conducted an informal, small-scale survey during March to May 2023 to gather insights from prominent non-bank lenders on their activity over the past twelve months in the net asset value (NAV) lending market. In this...more