NAV & Fund Financing
Liquidity against fund portfolios and LP stakes — without selling into a discounted market.
Image · NAV & Fund FinancingFour years of distribution drought have left investors holding valuable but illiquid fund positions. NAV-based facilities lend against the value of a private equity portfolio or LP stake — typically at conservative loan-to-value — releasing liquidity without crystallising a secondary-market discount. Matchpoint arranges NAV facilities, preferred-equity solutions and LP-stake financing for family offices, holdcos and fund managers from specialist NAV lenders.
As part of our Debt practice, Matchpoint Partners has originated and led $2+ billion of transactions across four continents, and every debt mandate is led by a partner, from first call to close.
The central mandate decision. Determine whether borrowing against portfolio net asset value improves liquidity and portfolio outcomes after considering concentration, valuation volatility and the fund's remaining life.
What capital providers or counterparties will test
Portfolio valuations, diversification, unfunded obligations, distribution history, asset liquidity, fund documents, borrowing permissions, key-person provisions and downside loan-to-value.
How the mandate is structured
A NAV facility may be revolving or term, secured by fund-level cash flows and interests in portfolio holding vehicles. Covenants, borrowing base, cash sweeps and release mechanics drive practical flexibility.
Execution priorities
Model the portfolio and distribution cases at asset level, confirm fund-document authority and negotiate collateral and release mechanics before the facility becomes operationally restrictive.
Prepare before approaching the market
- Fund and holding-company structure chart
- Portfolio valuation and concentration schedule
- Fund documents and borrowing authority
- Base and downside borrowing-base model
Our role on nav & fund financing mandates
- NAV facilities against PE portfolios and LP stakes
- Preferred equity as a non-dilutive alternative
- Specialist NAV lender and credit-fund relationships
- For family offices, holdcos and GPs
Research relevant to this area
Original analysis and decision frameworks from the Matchpoint team.
NAV & Fund Financing — frequently asked questions
Against the diversified value of the underlying portfolio — commonly 10–30% loan-to-value depending on concentration and asset quality.
A NAV facility preserves upside and avoids the 5–35% discount of an LP-led sale; the right tool depends on how permanent the liquidity need is.
A loan secured against the net asset value of a fund portfolio or LP position — releasing liquidity without selling assets into a discounted secondary market.
Commonly 10–30% loan-to-value depending on diversification, asset quality and distribution outlook — conservative by design.
A NAV facility preserves upside and avoids the 5–35% discount of an LP-led sale; a sale suits permanent exits. The right tool depends on how long the liquidity need lasts.
Matchpoint originates senior, mezzanine, hybrid and structured debt from regional banks, international lenders and private credit funds, structured around your transaction. Tickets range from USD 5m to USD 500m+.
Private credit is non-bank lending from specialist funds, typically senior or unitranche, offering speed and flexibility. We maintain relationships with private credit funds active in the GCC and India.
Yes. We structure Sukuk and Shariah-compliant private credit, including blended structures pairing a Sukuk tranche with conventional debt.
Engagements ordinarily combine a retainer with a success fee. Terms are agreed in writing before work begins and calibrated to the mandate’s size, scope and complexity.
Most mandates reach a first term sheet within 30 days, depending on diligence readiness and structure; closing follows once terms are agreed.
A short, confidential scoping call and NDA; we structure the requirement and prepare materials, then run a competitive process across our 5,000+ investor and lender relationships, and negotiate to close — with a partner leading at every step.
Matchpoint Partners is based in the UAE and runs cross-border mandates across the UAE, KSA, India and the UK, with active deal activity in wider Europe, Singapore and the United States.
Matchpoint undertakes corporate finance, financing, M&A and fund-placement mandates from USD 5m upwards, subject to mandate fit, diligence, applicable regulation, capacity and a written engagement. The partner team has originated and led $2+ billion of transactions.
Use the enquiry form, email contact@matchpoint-partners.com, or call/WhatsApp +971 52 345 1119. Every mandate is led by a partner from the very first conversation.
Yes. Confidential information is handled under the engagement terms and any applicable non-disclosure agreement.
More in Debt
Interested in nav & fund financing?
Tell us your requirement and a partner will respond personally.
How can family offices use NAV loans alongside co-investment programmes?
A NAV facility can provide portfolio-level liquidity for follow-on investments, distributions, short-term obligations or new deployment. The borrowing base, concentration limits, advance rate, covenants, repayment sources and downside liquidity should be tested against the co-investment programme before borrowing.
| Decision | Question | Evidence |
|---|---|---|
| Purpose | Is borrowing supporting a defined liquidity or deployment need? | Uses schedule and repayment plan |
| Borrowing base | Which assets qualify and at what value? | Portfolio schedule, valuation policy and exclusions |
| Headroom | How do drawdowns affect covenants after downside movements? | Sensitivity and concentration analysis |
| Co-investment capacity | How much follow-on and new-deal capacity remains? | Portfolio cash-flow and commitment model |
| Exit | Which cash flows repay the facility? | Distribution, sale and refinancing scenarios |
