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

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
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