NAV finance for investors in Private Equity
Since 2008 and with over 90 investments we have helped high quality private equity management companies, funds and institutional investors as part of their toolkit for value creation and portfolio management.
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Read nowJul 25 2024NAV finance steps into the mainstream
Private Debt Investor Podcast NAV finance used to be a niche, little known corner of debt capital markets, but over the past 10 years it has evolved into a firmly established part of the private markets ecosystem. As NAV finance has moved into the mainstream, private capital managers have taken up NAV facilities in ever greater numbers to address a wide range of financing requirements. So, how are managers using NAV finance across their platforms, and how has the market navigated a cycle of rising inflation and interest rates? What do LPs think of NAV finance and what is the outlook for the industry in the next 12 to 24 months? In this episode, we sit down with 17Capital partner Dane Graham to discuss what has driven the NAV finance industry’s rapid growth over the last 10 years, unpack how managers are using NAV facilities at the portfolio company and fund level, and look ahead to what comes next following a period of higher interest rates and tighter liquidity.
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Read nowJun 13 2024
17Capital promotes two to partner and strengthens North American Investments team leadership
17Capital, a private credit manager specializing in NAV finance for the private equity industry, today announced the promotions of Investment team members Dane Graham and Greg Hardiman to Partner, and Michael Timms to Managing Director. “We are delighted to recognize Dane, Greg, and Michael for their outstanding contributions to 17Capital as we celebrate yet another milestone for our firm amid a record-breaking year of growth and demand for NAV finance,” said Pierre-Antoine de Selancy, Co-Founder and Managing Partner of 17Capital. “These promotions highlight the exceptional talent within our organization. With their leadership in sourcing and executing key investments in North America, 17Capital is strategically positioned to continue seizing growth opportunities and delivering substantial value to our investors globally.” About Dane Graham Dane Graham is a Partner and leads the U.S. office from the firm’s New York headquarters. Since joining 17Capital, he has leveraged an extensive network of relationships across both counterparties and intermediaries to further expand 17Capital’s transaction opportunity set. He joined the firm in 2022 and holds more than 21 years of financial services experience, having previously served as Managing Director at both RBC Capital Markets and Citigroup. Dane has a Bachelor of Science degree in Business Administration & Accountancy from Clarion University of Pennsylvania and an MBA from the Pennsylvania State University. About Greg Hardiman Greg Hardiman is a Partner and is based in New York. Since joining the firm in 2019, Greg has helped execute a broad range of investments representing over $3bn in capital. Greg has nearly 15 years of financial services experience, having previously held roles at Conning and Man Group. Gregory holds a BA in Management from Villanova University and an MBA from Colombia Business School. He is also a CFA Charterholder. About Michael Timms Michael Timms is a Managing Director at 17Capital, based in San Francisco. He is responsible for sourcing, underwriting, and executing investments. Michael joined 17Capital in 2021 and holds more than 15 years of financial services experience, having previously held roles at Wells Fargo, first in Fixed Income Sales and then in the Financial Institutions Group. He started his career at Bank of America Merrill Lynch where he spent four years in Equity Sales. Michael holds a Master’s degree in Commerce from the University of Virginia’s McIntire School of Commerce, and a Bachelor’s degree in Economics from the University of Virginia. About 17Capital 17Capital is a private credit manager specializing in NAV finance for the private equity industry. It specializes in providing non-dilutive capital to high-quality private equity management companies, funds, and institutional investors as part of their toolkit for value creation and portfolio management. 17Capital offers NAV finance across the entire capital structure, providing a broad range of financing options. Investments are structured to support clients’ objectives, while keeping the interests of GPs and LPs aligned. Founded in 2008, 17Capital operates primarily from London and New York and has completed over 100 investments and 50 exits, deploying more than $13 billion since inception. 17Capital has raised $13 billion across six successive funds and mandates. For further details please contact: 17Capital (US) / Prosek Partners Pro-17Capital@prosek.com
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Read nowJun 13 2024
Growing demand for NAV finance sees 17Capital expand into the GCC
• Establishes office in Dubai, UAE, led by senior executive Pierre Garnier • Firm sees $5 billion of GCC based capital available to invest in NAV finance funds 17Capital, a private credit manager specialising in NAV finance, is pleased to announce the expansion of its business into the GCC. The move reflects the increasing and widespread global demand for NAV financing solutions from both institutional investors and private equity managers. Pierre Garnier, a senior executive with the firm, has relocated to the UAE to set up the new DFSA-regulated Representative Office which has received all the necessary approvals and licensing from local authorities and will be in the Dubai International Financial Centre. Pierre brings 15 years’ experience in the private assets industry having previously worked at Lazard, Pantheon and Ardian before joining 17Capital in 2018. 17Capital’s proprietary research conservatively estimates there is around $5 billion of capital available in the Gulf that is potentially deployable into a NAV financing focused funds. This figure does not include the potential for strategic partnerships with broader economic arrangements. The firm already has a deal making track record with the region. Over recent years it has been transacting on 7 deals totalling approximately $1 billion and involving large GCC institutional investors, mainly providing finance to their North American and European buyout assets and helping to grow these portfolios. Augustin Duhamel, Managing Partner at 17Capital, said: “This expansion represents the next stage of development for 17Capital as a market leader in private credit and the NAV financing asset class. The Gulf is an important global financial centre and one where we believe the opportunity for NAV finance is growing quickly. We are pleased to now meet and service that demand with a dedicated team on the ground.” 17Capital plans to scale up its GCC headcount over the medium term and currently employs nearly 100 professionals across Europe and North America. The firm struck a strategic partnership with Oaktree Capital in 2022, which saw the alternative asset manager take an economic stake in the NAV financing specialist. About 17Capital 17Capital is a private credit manager, specialising in NAV finance. It provides non-dilutive capital to high-quality private equity management companies, funds, and institutional investors as part of their toolkit for value creation and portfolio management. Founded in 2008, 17Capital has completed over 100 investments and 50 exits, deploying more than $13 billion since inception. 17Capital has raised $13 billion across six successive funds and mandates. For additional information, please visit 17Capital’s website at 17capital.com. For more information, please contact: H/Advisors Maitland (UK) Sam Turvey +44 (0) 782 783 6246