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NAV & Preferred Equity

Insurance companies are stepping in to fill a supply gap in fund finance, and one of the insurance worlds’ first movers in the market is looking to expand its fingerprint.
NAV finance has come a long way in just the last few years. 17 Capital executives Robert de Corainville and Greg Hardiman explain the dynamics of the market in 2022 and how they suggest explosive growth in the years to come.
The European private debt manager launched its NAV program last year with two leadership hires.
The Fund Finance Association's annual Global Symposium saw registration growth explode; We report on two breaking news stories in the NAV market.
Blocks making up the acronym for net asset value, or NAV.
Two former 17Capital managing directors are said to be in the running to launch a potential NAV lending business at investment firm Hunter Point Capital.
A person climbing steps, depicted with wooden blocks
Fund finance specialist elevates personnel across five teams.
Rocket ship illustration
Only two years ago, the accepted ceiling for the subscription line market globally was $500bn, a figure now seen as wildly underestimated. Meanwhile, NAV financing is poised for meteoric growth
Fund finance lawyers are working around some complex clauses in limited partner agreements
NAV structures are now able to suit both borrowers’ goals and investors’ yield targets, but some are worried certain structures go too far, including a structure that essentially gives borrowers equity at the cost of debt.
Banks hitting concentration limits and syndicating deals, insurance companies coming in as both buyers and lenders, and even rising interest rates all point to a bigger slice of market for non-banks.
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