Fund Finance for GPs: NAV & GP Lines | Request Term Sheet
Fund Finance For GPs: NAV, GP & Management-Fee Lines
We arrange NAV facilities, GP commitment lines, and management-fee lines for private credit managers. The objective is dependable liquidity against verifiable cash flows and portfolio value, with a borrowing base, covenants, and reporting that stand up to lender scrutiny.
Program Snapshot
| Products | NAV facility • GP line • Management-fee line |
|---|---|
| Security | LP interests / portfolio assets (NAV), GP commitments, management-fee receivables |
| Lenders | Banks • Private credit • Insurance capital |
| Use Of Proceeds | Follow-ons, co-invest, warehousing, working capital, capital call smoothing |
| Core Deliverables | Lender grid, term sheet negotiation, diligence management, documentation, closing |
Borrower
GP • ManCo • SPV
Per product and legal structure.Borrowing Base
Look-through NAV / Fees
Haircuts by asset, tenor, and quality.Advance Rates
Performance-linked
Adjusted for volatility and coverage.Covenants
LTV • DSCR • Diversification
Tested monthly/quarterly.Reporting
Quarterly Packs
NAV policy and exception logs.Valuation
Independent Reviews
Frequency set by volatility.Controls
Cash / Notices
Custody and call mechanics.Minimums
$20,000,000+
Higher sizes price better.Preference for SOC 1 Type II administrators; timely financials and board minutes available under NDA.
Documented NAV policy; independent pricing sources; exception and model change logs.
Full UBO verification; ongoing screening; side letter controls where applicable.
Notice mechanics, account control, and distributions waterfall verified prior to draw.
Scope Of Work
| Deliverable | Detail |
|---|---|
| Lender Grid & Term Sheet | Targeted counterparties; advance rate matrix; pricing and fees; covenants; cure and margin mechanics. |
| Diligence & Data Room | NAV policy, look-through holdings, track record, audited financials, governance, side letters, key agreements. |
| Documentation | Facility agreement, security package, notices, account control, valuation schedule, reporting templates. |
| Closing & Ongoing | Conditions precedent, first draw, compliance calendar, and lender reporting cadence. |
Economics & Controls
| Term | Market Practice | Comments |
|---|---|---|
| Advance Rate | 40–65% on eligible NAV; 50–80% on fee receivables | By asset quality, diversification, and volatility. |
| Covenants | LTV caps; DSCR; diversification tests | Breaches trigger margin, cash sweeps, or limits. |
| Valuation | Quarterly with independent checks | Back-testing and exception logs expected. |
| Pricing | Spread over base + upfront/arrangement | Fees reflect complexity and monitoring needs. |
| Liquidity | Term 1–3 years typical | Extension options subject to tests and approvals. |
Illustrative Timeline (45–90 Days)
| Week | Milestone |
|---|---|
| Weeks 1–2 | Data room setup; lender grid finalized; initial indications and term sheet shaping. |
| Weeks 3–5 | Diligence Q&A; advance rate and covenant negotiation; draft documentation. |
| Weeks 6–8 | Final approvals; account control and notices; conditions precedent list cleared. |
| Weeks 9–12 | Signing; first draw; compliance calendar and reporting cadence set. |
Readiness Checklist
- NAV policy, valuation sources, and exception handling.
- Track record, audited financials, governance documents, IC minutes (as permitted).
- LPAs, side letters, management agreements, fee schedules.
- Cash management framework: notices, waterfall, account control.
Fees, Minimums, And Terms
| Item | Terms | Notes |
|---|---|---|
| Minimum Facility | $20,000,000+ | Higher sizes improve pricing and lender appetite. |
| Retainer | $62,500 (non-refundable) | Funds process management, diligence, and documentation. |
| Success Fee | 1.5–2.0% of funded amount | Payable at closing; tiered by size and structure. |
| Timeline | 45–90 days | Contingent on complete data and timely responses. |
Request Your Term Sheet
Minimums & Fit
- Established managers with verifiable governance and reporting.
- Clear NAV policy and periodic financial statements.
- KYC/AML complete; sanctions clear.
- No non-verifiable assets or “platform” claims.
Financely provides investment and merchant banking advisory on a best-efforts basis. All engagements require KYC/AML, appropriate financial statements, and paid milestones. Any securities-related activities, where applicable, are conducted through a licensed chaperone, Member FINRA/SIPC. This page is informational and not an offer or solicitation.
Get Started With Us
Submit Your Deal & Receive a Proposal Within 1-3 Working Days
Submit your deal using our secure intake form, and receive a quote within 1-3 business days. Existing clients can connect with their relationship manager through our secure web portal.
All submissions are
promptly reviewed, and all communications are conducted through the intake form or the client portal for a seamless and secure process.
Thank you for considering working with us. A nominal fee of US$500 is required upon completion of each form. This fee covers the time and effort we invest in reviewing your submission and crafting a thorough proposal. We receive numerous inquiries and prioritize those that carry this fee, ensuring serious applicants receive prompt attention.
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Submit a RequestOnce we receive your submission, our team will review your information to determine feasibility. If eligible, you will receive a proposal or term sheet within 1–3 business days. Visit our FAQ and Procedure pages for more information.
Disclaimer: Financely provides financing based on due diligence and feasibility. Approval is not guaranteed, and past performance does not predict future outcomes. All terms are subject to review. Financely primarily assists with structuring and distribution. Qualified parties carry out the project if the client approves the proposal.
