17Capital Raises $7.5B for NAV Lending Fund

17Capital has successfully concluded its latest fundraising effort, amassing approximately $7.5 billion for its Credit Fund 2. This substantial capital raise solidifies the firm's leading position in the net asset value (NAV) financing space, marking it as the largest fund dedicated to this strategy to date. The closing brings 17Capital's total capital deployed across its various strategies to over $24 billion since its inception in 2008.

The significant influx of capital underscores the maturation of NAV financing as a distinct and sought-after asset class within the broader private credit market. This strategy, which provides non-dilutive capital to established private equity funds, allows general partners to access liquidity against their existing portfolio assets. This can be used for various purposes, including funding new investments, managing existing debt obligations, or facilitating earlier distributions to limited partners, thereby enhancing portfolio management flexibility.

Pierre-Antoine de Selancy, Managing Partner at 17Capital, expressed gratitude for the investor confidence, stating, "This fundraise reinforces our position as the market leader in NAV finance. We are deeply grateful for the trust and support of our investors, who share our conviction in this established asset class and the opportunity it represents." The firm has been a pioneer in this niche for 18 years, demonstrating a consistent track record and deep understanding of the private equity ecosystem.

Demand for NAV loans has seen a marked increase, particularly from U.S.-based private equity managers, according to Dane Graham, Partner at 17Capital. He noted, "Competition among private equity managers is driving adoption, with firms increasingly using NAV loans to further invest in their portfolios and generate additional value for investors." This trend highlights how sophisticated fund managers are leveraging NAV facilities to optimize capital deployment and enhance returns in a competitive market environment.

Credit Fund 2 significantly surpasses its predecessor, Credit Fund 1, which closed at $2.9 billion in April 2022 and was the first dedicated fund for NAV loans. Since launching its specialized NAV loan program in 2020, 17Capital has already deployed over $7.5 billion across 30 distinct NAV financing transactions, with $2 billion of this amount already allocated from the newly closed Credit Fund 2. This rapid deployment indicates strong market appetite and efficient execution capabilities.

The scale of Credit Fund 2 positions 17Capital to partner with leading private equity firms on substantial financing solutions, offering both scale and certainty of execution. This is particularly relevant as the private equity industry continues to grow, with global private equity assets under management projected to reach new heights. The firm also manages a Strategic Lending program, which focuses on financing private equity management companies, with its sixth fund closing at approximately $5.5 billion in July 2025.

In line with its philanthropic commitments, 17Capital will allocate a portion of the carried interest generated from Credit Fund 2 to Epic, a global nonprofit organization focused on improving the lives of disadvantaged youth. This initiative continues a tradition that began with Strategic Lending Fund 4 in 2017, making 17Capital a trailblazer in dedicating fund economics to charitable causes within the private equity sector.