Brookfield Credit score – the non-public 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 more than happy to see the continued progress and adoption of NAV financing for a wide range of use instances, in keeping with our market predictions,” stated Dane Graham, companion, 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 document of execution on this house and we’re happy to be the companion of option to main world funding managers like Brookfield.”
Up to now, 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 certainly 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 shoppers, particularly with a rated word feeder,” stated Craig Noble, chief govt of Brookfield Credit score.
“We’re happy to help 17Capital, who we take into account to be the clear chief of offering NAV finance to the non-public fairness trade.”
Learn extra: 17Capital opens Dubai workplace and boosts US funding crew