Private Equity

Fund Finance

17Capital forms $1bn NAV-backed lending platform

The London-based lender is working alongside a 'significant' American institutional investor, PEI understands.

2 min read · 31 July 2020

ILPA doubles down on transparency around subscription credit lines

The latest guidance from the LP body encourages GPs to disclose net IRR with and without the use of such facilities, in addition to the methodology used to reach that figure.

3 min read · 11 June 2020

EBITDAC: How companies may seek to increase debt by ‘adding back’ pandemic losses

As an example of the practice surfaces, an industry body is warning other companies not to use the covid-19 outbreak as an excuse to try and raise additional finance through flexible documentation.

2 min read · 19 May 2020

GPs ponder early repayments for credit lines as coronavirus threatens liquidity

Drawdowns could enable managers to pre-empt liquidity issues arising from the pandemic but may compound the problem for certain LPs.

3 min read · 17 March 2020

Fund finance: Who’s funding your credit line?

It’s a booming market that’s been synonymous with the banks in recent years, but a new source of capital has appeared on the scene.

6 min read · 27 February 2020

Three innovations in fund finance

Growing demands from GPs and investors have seen the market evolve rapidly in recent years.

3 min read · 25 February 2020

Uncommitted debt: How to avoid getting stung in a downturn

GPs can avoid potential liquidity issues by drawing down loans early and performing greater due diligence on their lenders.

4 min read · 05 February 2020

Fund finance: The investor view of credit lines

GPs must think carefully about how fund-level leverage affects performance at the fund level and, by extension, their own stability, writes veteran investor Neil Harper.

5 min read · 03 February 2020

Investec: How can I monetise my general partnership?

GPs are increasingly looking to raise or release equity against their management companies. But what are their options, asks Investec Fund Finance’s Slade Spalding.

5 min read · 31 January 2020

17Capital: Beyond the investment period

Growth in fund finance has overwhelmingly stemmed from subscription lines of credit to fund LP commitments during the first five years of a fund’s life. Pierre-Antoine de Selancy of 17Capital discusses what finance is available after the investment period.

6 min read · 31 January 2020

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