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NAV Financing

Unlocking Value Creation with NAV Financing

Pemberton’s NAV Financing strategy provides financing against the underlying value of private equity funds’ performing investment portfolios, primarily in the form of senior secured loans. Our solutions allow the private equity ecosystem to unlock value created in funds post their investment period, which can be used to maximise their return targets.

NAV Financing Strategy

$2bn Target Vintage Size

The Strategy Focuses On:

  • Providing capital to European buyout funds, general partners and limited partners

Key Use Cases Include:

    • additional platform investments
    • bolt-on acquisitions to existing platforms
    • supporting underperforming portfolio companies to optimise their capital structures

Our strategy addresses the needs of a large and growing market expected to exceed US$700bn by 2030, which is underserved by banks and a small number of niche providers1.

Pemberton is well placed to address this need, given our sole focus on credit (no competing equity interests), deep private equity sector expertise and extensive private equity relationships. We aim to deepen our position as a core financing partner to the private equity community.

1 Based on Pemberton’s understanding of the NAV Financing competitive landscape.

Read our Latest NAV Financing Insights

  • Asset-Based Finance

NAV Financing

Provides senior secured loans against the Net Asset Value of a diversified portfolio of portfolio companies of leading private equity funds, targeting low LTV facilities with an investment grade risk profile

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NAV Financing – An Opportunity for Insurance CIOs

NAV Financing – An Opportunity for Insurance CIOs

The rise of NAV financing for private equity buyout funds is drawing the attention of insurance company chief investment officers due to the attractive risk/return characteristics and strong structural credit protection features in a nascent and fast-growing asset class.

NAVigator Series 2024

NAVigator Series 2024

NAV Financing: A Hypothetical Performance Analysis The emergence of NAV Financing as an alternative private credit instrument in recent years has been accompanied by an increased investor focus on the potential role this new class of instruments can play within a broader private credit portfolio context. There are several reasons why NAV Financing is an […]

NAVファイナンシング：ファンドファイナンシングにおける進化

NAVファイナンシング：ファンドファイナンシングにおける進化

純資産価値（NAV）ファイナンスは、ファンドの資産のNAVを担保として利用する貸付の一形態を指します（言い換えれば、ファンドのポートフォリオ内の基礎資産に対して担保された貸付です）。一部のLPは、NAVファイナンスが最近出現した新しい資産クラスであると考えているかもしれませんが、実際には数年前から存在しています。 さまざまな資産クラスの異なるタイプのファンドのNAVを担保にして、銀行は何十年もの間、さまざまなファンドに融資を行ってきました。最近の進展は、NAVファイナンスが従来の銀行から離れ始めており、ファンドを通じて機関資本に置き換えられていることです。また、ファンドは従来の銀行が提供しなかった優先株式とシニア担保ローンの提供など、より柔軟なソリューションを提供し始めています。 これは、規制の制約により銀行が市場から徐々に撤退し、ダイレクトレンディングファンドに置き換わっているというヨーロッパのダイレクトレンディング市場で見られる類似の傾向です。 詳細については、以下の完全な記事をダウンロードしてください。

NAV Financing: Unlocking Value Creation

NAV Financing: Unlocking Value Creation

NAV financing is a very flexible fund finance tool that is used to help solve liquidity and capital needs. Pemberton’s solutions can enable the fund and/or its investors to unlock the value created in a fund, which can be re-deployed to support growth initiatives, preserve value or facilitate distributions to investors.

NAVigator Series 2023

NAVigator Series 2023

A Guide for Private Equity Stakeholder Engagement Net Asset Value (“NAV”) Financing has been a commonplace activity in banks for decades. The financing of the NAV of fund portfolios has been applied to all manner of liquid and illiquid asset classes for many years, including but not limited to equity funds, credit funds (bond or […]

Meet the Team

  • Pavol Popp

    Managing Director, Portfolio Management, NAV Financing & GP Solutions

  • Jürgen Breuer

    Partner, Head of NAV Financing & GP Solutions Origination, Europe

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