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About Us

Leading the way in NAV finance

17Capital is a private credit manager specializing in NAV finance for the private equity buyout industry.

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One strategy, two differentiated products

At 17Capital, we address the growing NAV finance market through two core platforms: Credit and Strategic Lending. Our Credit platform provides NAV loans to buyout funds, while Strategic Lending offers flexible, non-dilutive capital solutions to private equity management companies.

Why invest with us?

NAV finance specialist

17-year track record

Largest dedicated team

Large and underserved market opportunity

Funds raised

$15bn
Total funds raised since inception
6
Vintage funds raised since 2010
Figures as of March 2025 and include fund commitments, SMAs and co-investments.
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Our story

Since 2008, we have shaped the NAV finance market, supporting over 60 high-quality managers and earning the trust of a broad global investor base.

Our experienced global team of over 100 professionals operates from offices across North America, Europe and the Middle East.

From pioneer to a market leader

2008

The genesis of NAV finance
17Capital was founded in 2008 to provide an alternative for private equity investors seeking to monetize their portfolios.

Traditionally, investors had two primary options: sell assets on the secondary market - unlocking capital but forfeiting future upside - or use conventional debt financing, which often came with restrictive guarantees and structures ill-suited to illiquid private equity portfolios.

17Capital pioneered an alternative: flexible financing based on a portfolio’s net asset value (NAV), allowing investors to unlock capital while retaining ownership.

2008-2018

Pioneering Strategic Lending
Over the next decade, 17Capital successfully raised four funds within its Strategic Lending family, providing private equity portfolio holders with a flexible financing solution. In return, 17Capital maintained seniority over the cash flows from these portfolios until the financing, along with a contractual return, was fully repaid. Beyond investors, this financing model quickly gained traction among private equity management companies with significant GP commitments and buyout funds seeking to optimize fund performance.

2016

Opening of 17Capital’s New York office

2017

Partnership with the Epic Foundation
17Capital was the first private equity firm in the US and UK to sign the Epic Sharing Pledge, by offering carried interest recipients in its €1.2bn Fund 4 the opportunity to contribute a percentage of their individual carry to Epic. The initiative has continued from Fund 4 to all subsequent funds.

17Capital’s longstanding partnership with Epic also includes providing pro bono office space and sponsoring their events.

2018 onwards

Expanding into Credit
17Capital recognized a growing demand for fund-level financing among private equity buyout funds. However, the funds typically required lower advance rates - ranging from 5% to 20% of NAV - compared to the relatively higher loan-to-value (LTV) opportunities with management companies and investors. To address this market opportunity, 17Capital developed a more conservative financing solution with debt-like features, including maturity and covenants, specifically tailored for private equity funds.

2020

Launch of inaugural Credit Fund

17Capital launched the first-ever fund dedicated exclusively to providing NAV-based loans to private equity buyout funds. The Credit Fund successfully closed in 2022 at its extended hard cap of €2.6 billion.

2022

Oaktree and 17Capital announce strategic partnership

Oaktree acquired a majority interest in 17Capital. This mutually beneficial partnership strengthens the two firm’s standing as partners of choice in the private equity sponsor community. 17Capital continues to operate as an independent business within the Oaktree family, with its own product offerings and investment, marketing, and support teams.

In 2019, Brookfield Asset Management acquired a majority interest in Oaktree. While partnering to leverage one another’s strengths, Oaktree operates as an independent business within the Brookfield family, with its own product offerings and investment, marketing, and support teams.

Oaktree Logo

Today

A market leader in NAV finance

Having now raised over $15 billion across six funds, 17Capital offers two distinct NAV financing solutions to meet the diverse and growing needs of the private equity industry:

Strategic Lending

Flexible financing solutions, primarily used by management companies and investors.

Credit

Conservative NAV loans at low LTVs, primarily used by buyout funds.

As a trusted partner to private equity managers and investors worldwide, 17Capital’s mission is to continue to shape the NAV finance market, enabling funds, management companies and investors to unlock capital while preserving ownership and long-term value.

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Our values

The 17Capital values are the foundation on which we build strong relationships with our clients, investors and with each other.

Build trust

We behave and act in ways that earn trust

Make things happen

We are agile and responsive in a way that delivers success for all our stakeholders

Embrace different

We embrace new ideas and constantly strive to discover new ways of doing things

Strive for excellence

We act with professionalism and adhere to our high standards
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17Capital Academy

Staying ahead

We are committed to the continual improvement and training of our team. The 17Capital Academy is a programme of structured and interactive workshops giving the opportunity to learn and develop whilst also sharing knowledge from each other and external speakers.

We open up select sessions to our investors which cover in-depth discussions on recent investments, covering their origination, structure and key lessons learned.

Oaktree

In 2022, Oaktree acquired a majority interest in 17Capital. This mutually beneficial partnership will strengthen the two firm’s standing as partners of choice in the private equity sponsor community. 17Capital, will continue to operate as an independent business within the Oaktree family, with its own product offerings and investment, marketing, and support teams. To learn more about Oaktree, please visit oaktreecapital.com.