Fund Finance
Definition
Hybridfazilität
Fondsfinanzierungsstruktur, die Subscription-Sicherheiten (nicht abgerufene Zusagen) und NAV-Sicherheiten (Portfoliowert) kombiniert. Wechselt im Laufe des Fondslebenszyklus von der Subscription-Dominanz zur NAV-Dominanz, wenn Kapital eingesetzt wird.
Deep Dives
Related Terms
Subscription Credit Facility
Revolving credit facility secured by a fund's rights to call uncalled LP capital commitments. Also called 'capital call line' or 'sub line'; collateral is LP promises to pay, not assets.
NAV Facility
Loan secured by the net asset value of a fund's investment portfolio. Distinct from subscription line: secured by existing assets (not future capital); used in later fund lifecycle.