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Continuation vehicles present an interesting opportunity for fund finance, but concentration risk and a reluctant investor base pose a challenge.

Liquidity is not a great problem for established funds, but Corpay’s latest Lender Book Report finds emerging managers struggling to get what they require.

Developments including the evolution of use cases and a wider universe of lenders are creating a more flexible yet complex ecosystem.

As fundraising has slowed and exits become harder, fund finance in the region has never been busier, with GPs increasingly tapping into sources of liquidity.

The growth of continuation vehicles, evergreen funds and securitisation are contributing to the changing face of the fund finance market.

A run on redemptions in the private credit world has highlighted the importance of diligencing gating mechanisms in fund finance facilities.

The growth of securitised products is attracting more investors into the space.

The latest market study from Haynes Boone also shows that LPs are now less concerned about GPs using NAV loans.

Welcome to our new-look magazine. In this issue we put the spotlight on innovation with three forces reshaping fund finance; take a deep dive into fund finance and NAV lending; examine the state of the CLO market; and much more…

Lenders must embed adaptation and resilience readiness into standard credit assessment, writes Ravi Singh, senior manager at Institutional Investors Group on Climate Change.