Hi there, Does anyone have a list of NAV Lending funds? Below are the ones I know of: -17Capital -Pemberton -Crestline -Ardian -Hark Capital -BC Partners -Felicitas -MidCap Financial -Velocity Structured Solutions -Origami Partners -AlpInvest -Atalaya -Orix
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Del
I have seen Atalaya, Felicitas, and Origami do NAV Lending but I think it is part of a broader credit, secondaries, or structured equity fund and not just discrete NAV lending - I could be wrong though.
AB-PCI
HPS
Apollo
Ares
BX too
I don't think any of those groups have dedicated nav lending funds?
MSD does NAV loans
MSD?
Orix
Pemberton does in Europe!
That was on the list already.
Bump
Worth adding Nodem Capital to this list. They're a specialist NAV lender focused on family offices and institutional LPs — portfolio-level financing against private equity, private credit, and co-investment holdings. Based in the UK but lend across Europe and globally.
They tend to work on the smaller/mid-market end compared to the likes of 17Capital, which makes them relevant for family offices that don't have $500m+ portfolios. Flexible on structure: they'll look at mixed portfolios across asset classes and vintages rather than needing a clean single-strategy book.
Key focus areas: NAV loans, capital call bridging, acquisition financing, and junior tranches alongside banks.
Worth adding the mid-market specialists, since the names above mostly start at $100m+. Nodem Capital (London, FCA-regulated) does $10m to $100m+ against diversified LP portfolios, direct holdings and real estate, and also GP financing, mainly for family offices and smaller sponsors. Disclosure: I'm a partner there.
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