Brookfield Credit score – the personal credit score funding division of Brookfield Asset Administration – has made a $1bn (£0.79m) funding in NAV financing specialist 17Capital.
17Capital additionally introduced that it has deployed roughly $3bn throughout 16 investments over the previous 12 months, as demand for NAV finance continued to develop.
“We’re very happy to see the continued development and adoption of NAV financing for quite a lot of use instances, in step with our market predictions,” mentioned Dane Graham, associate, head of North America of 17Capital.
Learn extra: NAV finance: Behind the headlines
“As one of many solely devoted suppliers of NAV financing, 17Capital has proudly constructed the longest monitor file of execution on this house and we’re happy to be the associate of option to main world funding managers like Brookfield.”
To this point, 17Capital has accomplished greater than 100 investments and 50 exits, deploying greater than $13bn since inception.
Learn extra: Funds start utilizing unsecured NAV financing
Brookfield owns Oaktree Capital Administration, which acquired a majority share of 17Capital in 2022.
“As considered one of our strategic credit score companions, we view 17Capital’s NAV finance options as differentiated, scalable, and extremely engaging for Brookfield and our insurance coverage purchasers, particularly with a rated observe feeder,” mentioned Craig Noble, chief govt of Brookfield Credit score.
“We’re happy to help 17Capital, who we contemplate to be the clear chief of offering NAV finance to the personal fairness trade.”
Learn extra: 17Capital opens Dubai workplace and boosts US funding workforce
