Maples recently published the August 2026 edition of FUNDed, providing a mid-year review of the firm’s fund finance representations. They have continued to see a robust pipeline of deals, notwithstanding macroeconomic uncertainty in global markets.
In the private fund debt market, managers are continuing to seek and obtain subscription line financing, NAV facilities and other forms of debt financing, including a continued utilization of structured products within the fund finance ecosystem. The firm’s fund finance practice continues to be dominated by subscription line facilities, accounting for approximately 57% of closed deals in the US market, with NAV facilities accounting for 22% of new deals, a slight uptick from 18% over the course of 2025.
