In our new Talking. Secondaries. series, we will seek to demystify the secondaries and synthetic secondaries markets and provide insights into the variety of tools available to GPs when looking to provide liquidity to their limited partners and their portfolios.
In the fifth instalment of the series, we examine NAV facilities, an increasingly popular form of fund level borrowing against the net asset value of the portfolio. We look at some of the important structuring considerations as well as explore the key economic terms and negotiation points.
