Tom Auchterlonie
The latest market study from Haynes Boone also shows that LPs are now less concerned about GPs using NAV loans.
The firm’s strategies fall under a shared platform, and each beat their targets.
The asset manager’s investment chief cites 'weird time arbitrage' that the practice causes for evergreen investors who buy into vehicles at similar points.
The instruments bear similarities to NAV loans and dividend recapitalisations and are increasingly intriguing to LPs.
The non-bank lender will build on its sub-lines approach in entering a mature market.
While the EO is encouraging, significant regulatory and legal hurdles remain before it can be fully implemented, point out some PE pros.
The private credit lender reveals numbers for its inaugural fund solely dedicated to the instruments, and they demonstrate a tool best suited for high-performing borrowers.
US insurance regulatory updates reduce uncertainty for the instruments.
Projections from Alpha Group show that portfolio NAVs would need losses far worse than during the 2008 global financial crisis for the loans to breach key covenant levels.
The mega-LP will commit funds to the private assets platform for individuals.