As testament to the growing interest from GPs in portfolio financing this year, Secondaries Investor recently reported that 17Capital saw its strongest-ever pipeline of deals in 2020 and reportedly closed 10 deals worth $1.5 billion (roughly twice the deal value recorded in 2019). The article also mentions that the make-up of these deals was predominantly a combination of preferred equity financing and NAV-based facilities, reinforcing what we’ve been seeing in the market this year as GPs have sought to optimise their liquidity toolkit during the COVID-19 crisis of 2020.
