Fund finance: More than a year and a half ago, we wrote about funds flooding the NAV loan market for financing to see their portfolio companies through the crisis. Many of what people thought would likely be defensive transactions never materialized. Instead, firms were more likely to use those loans for ‘offensive,’ value-add transactions.
Now, managers are tapping NAV loans (and preferred equity) for other uses. We spoke to 17Capital about its year in portfolio finance activity to find out more about the ways in which the market is evolving. Check it out here.
Email prepared by Graham Bippart