While most banks offer fund finance options through subscription credit facilities, which are primarily geared toward the earlier stages of a fund’s term, there are now a growing number of lenders offering a different kind of finance option for later in a fund’s life in the form of preferred equity or NAV finance called "portfolio finance." Portfolio finance is an asset-based form of finance available to an owner of a portfolio of private investments that want to raise capital based on their projected cashflows from that portfolio. To learn more about the basics and where 17Capital managing partner Pierre-Antoine de Selancy thinks the portfolio finance market is headed, click here.