This webinar is the third in a series of LMA educational webinars on fund finance. In this webinar our speakers – representing lender, sponsor and adviser perspectives – provide an Introduction to NAV facilities.

NAV facilities are inherently bespoke.  Their structure and application can vary significantly depending on various factors – including asset class, type of lender, underlying portfolio, security structure and more.    

This introductory webinar is the first in a series focusing on NAV facilities. Nav Benning (Partner at Ashurst), Steve Burton (Managing Director at NLC Capital Partners) and Ben Williams (Managing Director at Foresight Group) discuss:

• What NAV facilities are and how they differ to subscription facilities
• Key areas of consideration, including uses, NAV calculation, security packages 
• Scrutiny around NAV facilities and best practices

This webinar is available on-demand and is part of a series of education on structuring and documentation of fund finance transactions.

The survey is designed to be the industry's "golden source" of fund finance data-driving greater efficiency, liquidity, transparency, and sustainability across the fund finance market.

This year's survey builds on the strong foundation of our first edition, going deeper to deliver robust, data‑driven analysis of transaction volumes, lending practices, and emerging trends in this often misunderstood market. By bridging the knowledge gap, this survey of GPs, lenders, and advisers serves to educate stakeholders, support sustainable market evolution, and provide the clarity needed to effectively navigate the fund finance ecosystem.

Your input fosters greater transparency, strengthens our dialogue with regulators, and helps shape best practices for the industry.

All responses are confidential, anonymised, and will only be reported in aggregate form.

The deadline for submissions is 28 February.

The LMA has published a Due Diligence Checklist and User Guide on fund structure and fund documentation underlying Subscription Facilities.

These documents were created by a dedicated Task Force and Working Party comprising lenders, GPs, and law firms acting for lenders, GPs and LPs. Rating agencies were also consulted. The objective was to ensure a balanced approach across all counterparties.

A webinar has also been published discussing the development of the DD checklist featuring Samantha Hutchinson (Partner at King & Spalding), Alan Macdonald (Head of Legal for Fund Solutions at Investec), Aditi Mittal (Global Fund Finance & Legal Director at ICG), and Ed Saunders (Partner at Goodwin Procter).