Net Asset Value Lending
Investment Strategies

Characteristics of Potential Investments

Size: $10-100 million
Borrower: Wide variety of funds
Characteristics:
  • Industry agnostic
  • Seeking low loan to value situations, prefer 30% LTV or lower
  • Reliable portfolio diversification
  • 4+ assets is typical although single asset deals are considered
Waterfall: The NAV loan is first in the waterfall at the fund level, before LP and GP distributions

Types of Funds

  • Traditional Buyout
  • Growth Equity
  • Venture Capital
  • Mezzanine
  • Secondaries
  • Fund of Funds
  • Family Office Portfolios
  • Other Diversified Pools of Illiquid Assets

Indicative Investment Parameters

Size: Investments of $10-100 million
Security: Secured by equity interest of the fund’s investments
Interest: Cash or PIK, flexible based on situation
Duration: 3-5 year maturity
Geography: Primarily U.S. and North America
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