Fund Liquidity Solutions

Helping Investors Unlock Captive Portfolio Value

Crestline’s Fund Liquidity Solutions Group provides bespoke financings to private equity funds and other asset vehicles seeking additional capital to support, grow and protect underlying portfolio companies, make additional acquisitions, provide liquidity to investors and other opportunistic portfolio management needs.

Portfolio Financing Solutions

We partner with managers to provide flexible, non-dilutive Net Asset Value (NAV) based financings that can be utilized for a wide range of growth focused and defensive purposes. As market leaders, we have closed more than 40 transactions with Private Equity, Growth, Venture, Real Estate and Infrastructure managers active across a wide range of industries and geographies.


We take a collaborative approach with managers, structuring creative facilities that help borrowers achieve their goals while understanding that the underlying collateral and use of proceeds are unique in every loan.

For inquiries related to fund finance and NAV lending opportunities, please contact:

Bryan Fischer
+1 (857) 540-1319
Amit Mahajan
+1 (212) 584-4147
David Philipp
+ (415) 990 9177

Investment Parameters

Investment Size

$25mm - $250+mm


  • 1 – 5 Years
  • Flexible Interest: PIK or Cash
  • Fully drawn or delayed draw



Americas, Europe & Asia

  • Loan to Fund
  • Preferred Equity
  • Loan to a portfolio company with fund Guaranty
  • Loan to General Partner and Management Company


Portfolio Characteristics
  • Two or more remaining investments
  • Minority or majority shareholding
  • Debt or equity positions
Borrower Profile
  • Buyout, Growth Equity, Real Estate, Infrastructure, Venture Capital
  • Traditional fund structures, evergreen vehicle, trust companies, family offices

Use of Proceeds

Accretive Follow-Ons
  • Complete new platform acquisitions
  • Provide growth capital
  • Participate in pre-IPO rounds
  • Finance accretive acquisitions
  • Buy out co-investors
Protective Follow-Ons
  • Participate in punitive pay-to-play rounds
  • Avoid or cure covenant breaches
  • Balance sheet clean-up or refinance
  • Weather business cycles
Secondary Transactions
  • Bridge to a continuation vehicle
  • Support leave behind assets post continuation vehicle process
  • Improve IRR
  • Bridge continuation vehicle fund closing
Provide Liquidity to LPs
  • Provide partial liquidity to all LPs
    1. Enhance DPI/TVPI, rebalance outsized positions, other investment needs
  • Provide full liquidity to a subset of LPs
    1. Fund repurchases stakes from selling LPs directly
    2. Remaining LPs and GP benefit as value of underlying assets continue to
Special Situations
  • Debt for credit-challenged porlio company with portfolio providing credit enhancement
  • Build Control Positions
  • Warehouse co-investment opportunities
  • Bridge between fundraises
Management Company
  • Seed new strategy
  • Fund GP commitments
  • Fund succession planning

Fund Liquidity Solutions News and Insights

Representative Transactions

Interested in Seeking Capital

Contact us to learn how we apply creativity and flexibility to our capital solutions.

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