Completed Transactions

Nav Loans


£26M 4-YEAR

  • Type of Fund: European mid-market single sector PE fund with $300m.

  • NAV Client Challenge: Follow-on investment opportunity with minimal remaining uncalled capital.

  • Our Solution: NAV Facility. Interest only with cash sweeps in year 4. Share pledge over the fund’s assets.

£18M 4-YEAR

  • Type of Fund: Multi-sector mid-market PE fund with €115m NAV. Assets in Europe and North America.

  • Client Challenge: Acquire additional equity in two portfolio assets, but the fund was fully invested.

  • Our Solution: NAV Facility. Fully secured via a series of deeds of assignments. Also - £2m liquidity facility to bridge cashflows anticipated from a near-term disposal.

€30M 4-YEAR

  • Type of Fund: Luxembourg open-ended RAIF structure, with €280m NAV. The portfolio consists of Benelux CRE assets plus a number of wealth management platform assets.

  • Client Challenge: Opportunity to fund M&A activity in the Swiss wealth manager space.

  • Our Solution: NAV Facility. Security included an assignment over the loan to the CRE portfolio and share pledges.

£14M 4-YEAR

  • Type of Fund: Single-sector mid-market PE fund with NAV of $250m across 9 assets split between UK & USA.

  • Client Challenge: The fund was 95% called but there was a significant opportunity to invest into existing portfolio assets ahead of medium-term liquidity event.

  • Our Solution: NAV Facility. Secured on the fund’s assets with 20% LTV covenant. Fully secured via a series of deeds of assignments.

GP Commitment Loans


£3M 18-MONTH

  • Type of Fund: Small-cap PE fund with a focus on UK assets.

  • Client Challenge: A slowdown in realisations caused a funding shortfall for GP’s commitments.

  • Our Solution: GP Commitment Facility. Secured on management fee flows. Documentation included performance metrics and margin ratchets.

£5M 7-YEAR

  • Type of Fund: VC and Growth Capital London-based fund manager.

  • Client Challenge: To fund their expansion, including premises and new hires.

  • Our Solution: GP Commitment Facility. 4-years interest only followed by 3 years amortisation. Secured by management fee flows across the manager’s 7 funds.

£7M 7-YEAR

  • Type of Fund: London-based VC house with a c.£1bn AUM across 9 funds.

  • Client Challenge: To refinance an existing GP leverage facility and to fund additional GP commitments.

  • Our Solution: GP Commitment Facility. Secured on management fee flows plus - to maximise the available facility amount - the GP’s co-invest positions in existing funds.

£8M 2-YEAR

  • Type of Fund: Private asset manager specialising in infrastructure projects.

  • Client Challenge: To fund additional GP commitments and to fund working capital while income from new funds come online.

  • Our Solution: GP Commitment Facility. Secured on management fee flows and assignment of interests of GP commitment vehicles.

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