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As emerging markets GPs continue to seek ways to address reduced liquidity and a challenging fundraising environment, law firm Akin Gump asks if NAV facilities could be part of the answer.
credit
Alicia Gregory, head of private equity at the Australian SWF, says investors could be left overexposed if less creditworthy LPs default on capital calls.
A company subject to a secondaries transaction could have at least five layers of leverage. We investigate how coronavirus has tested these layers.
London
The London-based lender is working alongside a 'significant' American institutional investor, PEI understands.
Employer with magnifying glass exploring application papers
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.
covid
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.
Coronavirus impact on markets
Drawdowns could enable managers to pre-empt liquidity issues arising from the pandemic but may compound the problem for certain LPs.
fundraising
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.
Illustration of bundles of cash
Growing demands from GPs and investors have seen the market evolve rapidly in recent years.
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