Ropes & Gray’s fund finance partners Patricia Lynch and Patricia Teixeira, along with counsel Justin Gaudenzi, have authored an expert analysis chapter, “NAV Facilities – the Investor’s Perspective,” published in Global Legal Insights (GLI) – Fund Finance Laws and Regulations 2026. This guide covers legal trends and developments in the global fund finance market.
The chapter provides an in-depth overview of the current NAV financing market, highlighting the increasing use of NAV facilities by private investment funds. It explains how NAV facilities differ from traditional subscription facilities, outlines the benefits and risks for both sponsors and investors, examines recent market trends, and reviews recommendations from the Institutional Limited Partners Association (ILPA) regarding disclosure and best practices for NAV facilities.
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