Fund Financing

Liquidity at the fund level

We lend against fund assets: NAV-based facilities, subscription lines and hybrids of the two, from €20m to €120m at a conservative loan-to-value of 10% to 25%. Borrowers are mid-market private equity, credit and secondaries funds that need liquidity on their own schedule — to fund an add-on, to bridge a capital call, or to hold an asset one more year.

Because we invest in these strategies ourselves, we underwrite the underlying portfolio rather than take a rating agency's word for it. Facilities run two to four years, revolving or term, and documentation typically closes in six to eight weeks.