Fund Finance

Fund finance: Tapping the brakes

Higher interest rates and rising debt costs are prompting managers and investors to rethink the use of fund finance facilities.

Church Pension Fund: NAV financing not a ‘free lunch’ for LPs

Speaking at the HKVCA’s Asia Private Equity Forum on Friday, Eric Mason, head of PE at the Church Pension Fund, told delegates that using NAV facilities to create distributions increased financial risk.

Hunter Point looks to nab insurer clients with MassMutual NAV vet

The firm has been hiring big names in NAV since early last year.

NAV loans attract scepticism from LPs amid growing transparency concerns

The State of Wisconsin Investment Board and Florida State Board of Administration both expressed unfavourable views on NAV-based instruments on a webinar hosted by PEI.

Carlyle reports 3Q results, and $17bn fair value of credit funds

CEO Schwartz says the firm is focusing on private credit, and notes that the global credit business has nearly tripled in the past three years.

Recallable NAV loans: The ‘zero-sum game’ leaving LPs in a bind

A stipulation that capital distributed to LPs via NAV facilities can be recalled is creating headaches for some investors.

Asset and wealth managers see hopeful numbers for private credit

New study from Percent and Coalition Greenwich sees a doubling in AUM for the asset class to some $2.7trn.

Pemberton launches credit fund for US pension plans

The evergreen fund will invest in a broad range of alternative credit strategies.