17Capital promotes three to Partner

17Capital, the global go-to source of strategic financing for investors in private equity, today announced the promotions of Managing Directors David Wilson, Emad Shahin and Fokke Lucas to Partner. Pierre-Antoine de Selancy, Managing Partner of 17Capital, said: “We are pleased to recognise David, Emad and Fokke for their valuable contributions to 17Capital as we celebrate another record year of growth and demand for NAV finance, and our recent achievement of one of the largest debut private credit funds in history. These promotions reflect the depth of talent across our organisation, and with their proven track records of executing key investments, 17Capital is well-positioned to continue pursuing growth opportunities that deliver investor value.” About David Wilson David Wilson is a Partner, Co-Head of Credit and member of the Investment Committee at 17Capital. He joined the firm in 2019 to develop 17Capital’s NAV lending offering and was key to the record fundraising of 17Capital’s Credit Fund. David brings more than 27 years of financial services experience to 17Capital, having previously held senior roles in J.P. Morgan’s Fund Financing team and at Lehman Brothers. About Emad Shahin Emad Shahin is a Partner and General Counsel at 17Capital. He is responsible for all legal matters across the firm and overseeing the execution of all investments across the firm. Since joining the firm in 2019, he has worked on every transaction, including 17Capital’s first NAV lending transaction, in which the firm partnered with a top-tier pan-European manager. Prior to joining 17Capital, Emad held senior roles at J.P. Morgan and Nomura. About Fokke Lucas Fokke Lucas is a Partner at 17Capital. He has been a key contributor across investments and fundraising to 17Capital’s rapid growth since joining the firm in 2012. He has completed 23 transactions of which 11 are fully realized. Prior to 17Capital, Fokke spent five years at Lehman Brothers’ European Mezzanine Group and its spin-out Neovara LLP.

17Capital announces closing of €2.6 billion NAV lending fund

Inaugural fund marks one of the largest debut private credit funds ever raised 20 April 2022 – 17Capital has announced the final close of its inaugural 17Capital Credit Fund. The fund raised €2.6 billion ($2.9 billion USD), hitting its hard cap and exceeding its initial €1.5 billion target ($1.65 billion USD). It is the largest debut private credit fund raised globally since 2009 and is one of the largest debut funds ever raised (source: Preqin). 17Capital’s credit fund provides NAV loans to high-performing private equity managers in Europe and North America, which are mostly used by managers to grow their portfolios but also to generate interim liquidity for their investors. It is a natural extension of 17Capital’s well established preferred equity offering that 17Capital pioneered in 2008 and is currently investing out of its fifth fund (closed at $2.9 billion in June 2021). The Credit Fund has a global, blue-chip investor base and has already deployed €1 billion ($1.1 billion USD) across 7 loans, with a further €800 million ($880 million USD) syndicated to co-investors. Pierre-Antoine de Selancy, Managing Partner at 17Capital, said: We are grateful for the support from our investors and are delighted they share our excitement for this asset class. 17Capital pioneered the NAV financing market in 2008 and it is now a recognized tool for top tier private equity investors to manage their portfolios. In 2021, we deployed $3 billion, of which over 90% was alongside the top 100 managers globally by assets under management. In 2022, we are on track to deploy $3bn in the first half of the year, doubling our 2021 investment pace." Reaching the hard cap for the credit fund enables 17Capital to address the huge market opportunity and underscores 17Capital’s position as the global market leader in NAV financing. The fund has been raised amid surging demand for NAV financing – the potential market is forecast to reach $700 billion by 2030, up from more than $100 billion today, according to findings from 17Capital’s research report. 17Capital has pledged to donate a percentage of the carried interest earned from the 17Capital Credit Fund to Epic, the global non-profit organization fighting to change the lives of disadvantaged youth. This follows the same pledge made for 17Capital Fund 5 in 2021 and 17Capital Fund 4 in 2017, when the firm was the first private equity fund to make the pledge. Website: www.17capital.com/epic  

NAV Financings: A Review of the Year