Leverage

17Capital promotes three to partner

The preferred equity and NAV lending specialist agreed to be acquired by Oaktree in March and closed its debut fund dedicated to NAV-backed lending in April.

Coller hires ex-UBS Private Funds exec

Jake Elmhirst was a managing director and founding member of the Private Funds group at UBS, which he left last year after 25 years.

What 17Capital’s credit raise says about the NAV financing opportunity

The firm, which raised €2.6bn this week for its debut lending fund, is agnostic about whether it’s viewed via a preferred equity or credit lens.

Ex-17Capital’s Doyle resurfaces to launch NAV financing strategy

Thomas Doyle has joined Pemberton to help the private lender tap into demand for late-cycle lending among the private equity fund community.

CapDyn has levered, unlevered sleeves in latest secondaries fund

Global Secondaries VI has a levered sleeve targeting returns of more than 20%, a feature more commonly found in credit funds.

Family offices exploring NAV loans as secondaries alternative

This largely institutional market has seen a spike in enquiries from family offices and high-net-worth individuals, according to speakers at the Fund Finance Association Symposium.

Investec hires bankers to bolster financing and hedging group

These hires bring the fund solutions team to 26 as it endeavours to expand its presence in NAV lending and secondary financing.

Baird appoints Moelis MD for new capital advisory team

The mid-market investment bank has appointed a 10-year veteran of Moelis & Company to co-lead the New York-based advisory unit.

LPs stand to lose from alleged sub line fraud

The idea of having to foot a bill to the tune of millions of dollars to a loan secured by a fiction serves as a wakeup call to investors, lenders and GPs alike.