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By Melinda PERERA and Claire PROSPERT, Linklaters Luxembourg
Financing of alternative funds has been undergoing a transformation in recent years through developments such as the shift of NAV finance from a niche to the mainstream, the growing role in the sector of private credit funds, insurers and other non-bank lenders, and the consequent increase in competition between lenders, according to speakers at the Fund Finance Association’s recent 15th Annual Global Fund Finance Symposium at Miami Beach.
Industry members reported that NAV facilities – once a relatively unusual and bespoke form of financing – are today increasingly in demand from managers of private equity, infrastructure, real estate and fund of funds structures. For fund sponsors...
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