Alex Lynn
The facility would be intended to support value accretive add-ons rather than to distribute capital to investors.
NAV’s inherent synergies with secondaries means the strategy is gaining significant traction among East Asian LPs.
Speaking at the HKVCA’s Greater China PE Summit, Shirley Ma, senior portfolio manager at APG Asset Management Asia, said the pension giant doesn't support the use of NAV financing in its portfolio.
Subscription credit line use in Japan hasn’t developed at the same rate as in other Asia-Pacific markets, Fi Dinh, head of fund finance for APAC at MUFG Investor Services, tells affiliate publication Private Equity International.
Partners Group Fund Financing Solutions will invest primarily in GP-led and LP-led NAV loans and opportunistic investments, including NAV preferred equity investments.
Speaking at the HKVCA’s Asia Private Equity Forum on Friday, Eric Mason, head of PE at the Church Pension Fund, told delegates that using NAV facilities to create distributions increased financial risk.
A stipulation that capital distributed to LPs via NAV facilities can be recalled is creating headaches for some investors.
The regulator said Insight charged excess management fees by inaccurately calculating management fees based on aggregated invested capital at the portfolio company level instead of at the individual portfolio investment security level.
Fundraising platforms-turned-GPs are revolutionizing a traditionally laborious commitment process for wealth managers and their clients.
Early mover ADDX is providing accredited investors with access to blue chip private equity funds, including Partners Group’s €5.5bn Global Value SICAV.