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.
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.
Division led by industry veterans beats expectations since launch, according to one of the platform’s top executives.
Registrants broke through triple digits at the industry organization’s London event, where the mood was optimistic, though the near-term future is filled with uncertainties.
Lenders are focusing on the sponsor to understand ESG risks, rather than the underlying investments in their portfolio, according to experts.