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Fund Finance
Partners Group Fund Financing Solutions will invest primarily in GP-led and LP-led NAV loans and opportunistic investments, including NAV preferred equity investments.
Sub line margins rose 17% last year as fund financing becomes more lender-friendly, according to Haynes & Boone’s Fund Finance Annual Report 2023.
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 Capstone survey has found that more than half of LPs consider NAV financing and preferred equity a ‘poor’ way to generate liquidity.
PEI caught up with fundraising experts to discuss Asia-Pacific reallocations, tricky re-ups and incentives managers will use to lure investors this year.
LPs made their thoughts about the fund finance facility known in 2023.
Higher interest rates and rising debt costs are prompting managers and investors to rethink the use of fund finance facilities.
Private markets CFOs are navigating a fund finance market in flux in the wake of the regional banking crisis.
It’s not unusual for new products to come under scrutiny in their ‘growing up’ phase, but some concerns around NAV loans may be misplaced, write Samantha Hutchinson, Brian Foster and Mike Hubbard at Cadwalader, Wickersham & Taft.
The impact of fund-level subscription facilities on performance is among the areas targeted by sweeping changes from the SEC.