Leverage

Global Secondaries VI has a levered sleeve targeting returns of more than 20%, a feature more commonly found in credit funds.

This largely institutional market has seen a spike in enquiries from family offices and high-net-worth individuals, according to speakers at the Fund Finance Association Symposium.

These hires bring the fund solutions team to 26 as it endeavours to expand its presence in NAV lending and secondary financing.

The mid-market investment bank has appointed a 10-year veteran of Moelis & Company to co-lead the New York-based advisory unit.

The idea of having to foot a bill to the tune of millions of dollars to a loan secured by a fiction serves as a wakeup call to investors, lenders and GPs alike.

Subscription finance is busier than ever, prices are rising and competition among lenders is on the rise despite the pandemic.

We chart the spectacular rise of concentrated NAV lending in the covid-19 era as the sub-sector comes of age.

The preferred equity specialist says it closed transactions this year across Europe, North America and Asia from a total pipeline of around $20bn.

NAV-based lending facilities can be more effective – and encounter less resistance from LPs – than preferred equity, says head of transactions at Rede Partners Magnus Goodlad.

This week Secondaries Investor moderated a panel on the debt secondaries market hosted by sister publication Private Debt Investor. Here is what we learned from the discussion featuring executives from Manulife Investment Management, Tikehau Capital and Pantheon.