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Most first quarter valuations are already finalized, but a study from fund administrator Gen II Fund Services gives some insight into how fund managers expected the pandemic to affect their valuations as they worked through them in April.

The latest guidance from the LP body encourages GPs to disclose net IRR with and without the use of such facilities, in addition to the methodology used to reach that figure.

ESG ratings agencies are increasingly stepping into private markets. That could point to greater standardization in ESG, and more transparency for private equity.

We should banish the idea that listed markets are the ‘right’ reference for pricing assets, writes Cyril Demaria.

A relatively new form of financing faces its moment of truth. As banks retreat from lending amid unprecedented economic chaos, a handful of ‘concentrated NAV lenders’ may be seeing a new phase in the evolution of their young market.

In the magazine: Will NAV lenders keep you afloat?; Inside the rise of Whitehorse; Covid-19's unexpected consequences; How GPs are supporting portfolio companies; Plus much more.

CFOs speaking to Private Funds CFO are keen to be able to keep subscription credit lines drawn until their funds hold a final close to avoid what they say are messy LP rebalancing issues.

In the issue: CFOs on valuations in a pandemic; the tests facing the mark-to-market model; GPs' options if an LP defaults; and much more.

The industry organization is circulating a draft proposal recommending a host of disclosures on GPs’ use of subscription credit lines, with an eye to helping LPs manage exposure to the lines, allocation to PE and overall liquidity.

Concentrated NAV lenders and preferred equity financers are seeing historic dealflow. But only a handful of alternative lenders exist, and banks active in concentrated NAV are scarce and rarely transact. With potentially thousands of funds looking for liquidity for their portfolio companies, will this rare source of fund liquidity be able to sate demand?