AllianceBernstein’s NAV lending arm hires pair of vets, gets parent investment

AB NAV is part of firm’s private credit arm – and its loans will be offered alongside portfolio debt to GPs.

AllianceBernstein’s newly launched NAV lending business is helmed by a pair of fund finance executives with more than two decades’ combined experience.

The asset manager has brought on Dupe Adeyemo and Sara Casey as head of NAV lending and director of NAV lending, respectively.

Adeyemo was previously with Barclays, where he worked since 2007. AllianceBernstein added that Adeyemo led structuring and sourcing of NAV loans while at the bank.

Casey previously worked at Hark Capital for five years in NAV lending. While at Hark, she was involved in investor relations, sourcing, fundraising and execution.

The NAV arm, called AB NAV Lending, has also secured an anchor investment from parent company Equitable Holdings.

AB NAV Lending is housed within AllianceBernstein’s private lending arm, AB Private Credit Investors (AB-PCI). That division has a headcount of 75 and manages $17 billion-worth of assets.

Indeed, AllianceBernstein plans to leverage the groups’ ties to offer private equity GPs a suite of capital solutions at both the fund and portfolio levels.

“The launch of AB NAV Lending enables AB-PCI to provide fund-level financing to private equity sponsors in addition to portfolio company financing and equity co-investment solutions,” the firm said in a statement.