VIDEO: Hark Capital’s Cruikshank on NAV lending through a downturn

Doug Cruikshank talks with senior editor Toby Mitchenall about the growing asset class: how it works, who it works for and what he thinks it can do for sponsors during an economic slump.

The net asset value lending market is younger than the current (or last?) credit cycle. Before the skies darkened for financial markets, Hark Capital’s head of fund financing, Doug Cruikshank, sat down with senior editor Toby Mitchenall for sister publication Private Funds CFO to talk about the burgeoning asset class, and how he expects it to be even more helpful to GPs in a downturn than it has been in fairer weather. “In general, portfolios will take more time, not less, to come to fruition,” says Cruikshank. “And in those cases, sponsors will want the optionality and the capital we provide later in their lives.”