NAV
Definition
Net asset value — the estimated carrying value of the Fund's positions. Not a market price.
Related terms
- TVPITotal value to paid-in capital — cash distributed plus residual NAV, per dollar invested.
- Yield bridgeAn explanation of gross position income, fee bases and net LP cash yield. Fees assessed on revenue and NAV cannot simply be subtracted as percentage points of yield.
Questions that involve NAV.
In context
How is the Fund audited?
Annually. Positions are held by a registered administrator, and NAV is validated by audit and by arm's-length new-LP subscriptions.
From: Regulation & eligibility · Investment
Definitions are provided for reference and are not investment, legal or tax advice. Any offer is made only by the Fund's confidential Private Placement Memorandum.