Fund Finance

The firm, which is seeking as much as $585m for Keyhaven Secondaries Fund III, also made two hires last November.

The law firm has hired a fund finance specialist to take advantage of asset-backed lending, which has become an increasingly popular alternative to secondaries sales.

Energy and infrastructure secondaries accounted for 6% of the $134bn in deal volume last year, according to Evercore.

GP-led activity is picking up thanks to a decline in exit activity during the pandemic and rising familiarity with the practice.

NAV loans have seen a significant increase in popularity among managers, and some are looking to make it easier to take them out.

NAV finance has expanded substantially in the last few years, says 17Capital’s Augustin Duhamel in this sponsored Q&A.

The well-known face in secondaries fund finance is aiming to start the insurer’s origination business.

The Munich-headquartered manager's first dedicated secondaries fund targets small and mid-sized opportunities on an LP- and GP-led basis.

Portfolio Financing Fund II does preferred equity- and NAV-based lending deals for funds in the private equity, real estate and infrastructure markets.

In the absence of market mammoths, firms raising for once-niche strategies such as concentrated-asset deals and preferred equity populated this year's list.