17Capital -Tue, 06/10/2025 - 18:57

NAV Loans Uncovered: Observations From the 17Capital Credit Fund

This paper presents key observations on NAV loans made to private equity funds, gained from our experience deploying the 17Capital Credit Fund over the past five years. It aims to clarify the role of NAV loans and explain how they create value for LPs in private equity funds. Before providing our insights, it’s worth reflecting on the origins of the NAV finance market and 17Capital’s role in its development.

Read the full article, including a foreword from Co-Chairman of Oaktree, Howard Marks.

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Contacts

17Capital

Founded in 2008, 17Capital is a private credit manager specializing in NAV finance for the private equity industry, operating primarily from London and New York.

17Capital specializes in providing non-dilutive capital to established private equity management companies, funds and institutional investors as part of a toolkit for value creation and portfolio management.

At 17Capital, we address the growing NAV finance market through two core platforms: Credit and Strategic Lending. Our Credit platform provides NAV loans to buyout funds, while Strategic Lending offers flexible, non-dilutive capital solutions to private equity management companies.

Since inception, 17Capital has raised $24 billion across eight successive funds and mandates, completed 135 investments and 65 exits.

*Figures as of March 2026 and include fund commitments, SMAs and co-investments.

Tyler Dziama,
Director, Investor Relations
Dziama@17capital.com

17Capital
452 Fifth Avenue,
29th Floor,
New York, NY 10018

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