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NAV & Preferred Equity

Three managing directors in London were made partners during a growth period in the NAV financing market.
The firm, which has raised €2.6bn for its debut lending fund, estimates the size of this market could grow to $700bn by the end of this decade.
The proliferation of NAV-based lending makes it possible for closed-end funds to transition away from bank credit lines for their currency hedging needs. Mark Battistoni of HedgeNAV LLC explains.
Large insurance firm takes minority investment in London-headquartered pref equity and debt provider that is seeing new kinds of demand for its financing

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