Proskauer survey sheds light on NAV terms

Creator of the survey says the novel practice of back-levering deals with NAV has already spread to even the lower mid-market.

An informal survey conducted by law firm Proskauer shows the terms some of the big NAV lenders are offering, providing some insight into the obscure, but increasingly popular, asset class.

The survey was conducted with a handful of some of the biggest balance sheet, non-bank lenders in the market, Proskauer partner and former banker Matt Kerfoot told affiliate title Private Funds CFO.

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