Capital into the fund

Fund Finance

The banks and specialist lenders that provide fund-level leverage — subscription (capital-call) lines secured against uncalled commitments, and NAV facilities secured against the portfolio.

11 sources

17Capital

Notable

Firm

Leading specialist NAV-financing provider, owned by Oaktree.

PE funds, GPs and LPs seeking NAV liquidityView

First Citizens (Fund Banking)

Notable

Firm

Fund banking franchise built on the former SVB business.

Venture and private-equity fund managersView

BAR

Barclays

Firm

Global bank active across fund-level financing.

Large private-equity and credit fund sponsorsView

CTZ

Citizens

Firm

U.S. bank serving mid-market fund sponsors.

Middle-market and growth fund sponsorsView

Hark Capital

Firm

NAV-lending specialist for private-equity funds.

Mid-market private-equity fundsView

ING

Firm

European bank with an established fund-finance practice.

European and global fund sponsorsView

MUFG

Firm

Global Japanese bank active in fund finance.

Large private-equity and credit fund sponsorsView

Pemberton Asset Management

Firm

European credit manager with a NAV-financing strategy.

Private-equity funds and mid-market borrowersView

SMB

Sumitomo Mitsui (SMBC)

Firm

Japanese banking group and major fund-finance lender.

Private-equity, credit and infrastructure fundsView

Wells Fargo

Firm

Major bank provider of capital-call subscription lines.

Private-equity and private-credit fundsView

Whitehorse Liquidity Partners

Firm

Preferred-equity solutions for private-markets portfolios.

LPs and GPs seeking portfolio liquidityView

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