When taking security over a portfolio of investments in a NAV facility, it may be difficult or costly to take security over the borrower’s investments. A common solution is to implement what we refer to as the SPV pledge....more
NAV facilities come in all shapes and sizes and, unlike subscription facilities, there is no standardised collateral package for these kinds of transactions. In the European market, many lenders - particularly investment...more
Luxembourg and the Cayman Islands are two of the world’s leading fund formation jurisdictions, and account for a large portion of the private equity funds domicile market. Most private equity fund structures are comprised of...more