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Fund Liquidity Solutions

Helping Investors Unlock Captive Portfolio Value through NAV Lending

Crestline's Fund Liquidity Solutions Group provides bespoke NAV loans to private equity funds and other asset vehicles seeking flexible capital to support underlying portfolio companies, pursue accretive acquisitions, provide liquidity to investors and address opportunistic portfolio management needs.
90+
Transactions

12
Year Track Record
15
Person Dedicated Team
4
Funds Raised
5.3B+
Capital Deployed1

NAV Lending & Fund Liquidity 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 over 90+ NAV loans with Private Equity, Growth, Venture, Real Estate, Credit, Infrastructure managers, and multi-asset class portfolios, as well as Family Offices, Holding Companies and Private Investment Companies. We are active across a broad range of industries and geographies.

 

We take a collaborative approach with managers, structuring creative net asset value based 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
Email
Ankur Dadhania
+1 (609) 707-4438
Email
Amit Mahajan
+1 (212) 584-4147
Email
David Philipp
+ (415) 990 9177
Email

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 grow.
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

Investment Parameters

Investment Size

$25mm - $250+mm

Term

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

Geography

Americas, Europe & Asia

Structures
  • 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, and Credit Funds
  • Traditional fund structures, evergreen vehicle, trust companies, family offices, holding companies, and private investment companies

Fund Liquidity Solutions News and Insights

Equally important, our wins reflect well on our clients.

Private Debt Investor awarded the Crestline Investors Fund Liquidity Solutions team second place for Fund Financier of the Year – Americas for 2022.
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Private Debt Investor awarded the Crestline Investors Fund Liquidity Solutions team first place for Fund Financier of the Year – Americas for 2021.
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Private Debt Investor awarded the Crestline Investors Fund Liquidity Solutions team first place for Fund Financier of the Year – Americas for 2020.
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Private Debt Investor awarded the Crestline Investors Fund Liquidity Solutions team third place for Fund Financier of the Year – Americas for 2019.
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Private Debt Investor awarded the Crestline Investors Fund Liquidity Solutions team first place for Fund Financier of the Year – Americas for 2018.
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Representative Transactions

¹Includes capital commitments across all strategies, co-investments, and SMAs. The total commitment size reflects the full facility commitment size, unless CL participated in a non-CL lead syndicate deal, in which case only CL’s portion of the commitment is considered.

Looking for a Capital Partner?

Contact us to learn more about our collaborative, customized approach to delivering capital solutions.

Join Our Team

Strong partnerships with customers start with the right colleagues.
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