As liquidity tightens and hold periods extend, lenders are demanding cleaner, faster, more defensible data – and most firms aren’t ready
The private markets liquidity landscape is changing. Traditional exit timelines have slowed, rates remain elevated, and firms are holding assets longer than planned. To bridge the gap, GPs are relying more heavily on fund finance solutions – NAV loans, hybrid facilities, and asset-backed structures that provide capital without needing to sell.
According to the Private Funds CFO Insights 2026 report, the use of NAV and hybrid financing is rising sharply, with nearly half of CFOs expecting increased engagement with private debt lenders in the next 12 months.
But there’s a catch: These financing structures require clean, reliable, and real-time data that many firms simply cannot produce on demand.
Lenders want transparency. LPs want assurance. CFOs want flexibility.
And none of that is possible with fragmented systems, manual reporting cycles, or spreadsheet-based valuations.
Fund finance isn’t just a capital solution anymore. It’s an operational stress test.
The rise of NAV lending and hybrid facilities
NAV lending has become an essential tool for firms aiming to:
- Bridge extended hold periods
- Support portfolio company needs
- Provide early liquidity to LPs
- Fund follow-on investments
- Maintain deployment pacing
Hybrid facilities – which blend subscription-line collateral with NAV or asset-level collateral – are rising for similar reasons.
But lenders aren’t simply reviewing a fund’s historical performance.
They evaluate real-time data, including:
- Updated asset valuations
- Cash flows and projections
- Leverage across the portfolio
- Tenant exposures
- Market-level trends
- Risk concentrations
- Forward-looking performance
- Debt service coverage
If this data is cobbled together manually, arrives in inconsistent formats, or contradicts itself across systems, lenders view that as operational risk.
And operational risk increases pricing – or kills the deal entirely.
Data problems are the #1 barrier to fund finance efficiency
Most firms face the same challenges because their data is scattered across:
- PMC exports
- Accounting systems
- Individual asset and fund models
- Excel-based valuations
- Debt trackers
- Manually maintained waterfalls
- Shared drives
- Email attachments
The result is predictable:
1. Slow lender diligence
Teams scramble to gather data, reconcile it across systems, and create lender-ready reporting packs.
2. Inconsistent valuations
Different teams may work off different assumptions or outdated files.
3. Exposure reporting is error-prone
It’s difficult to assess concentrations accurately without unified data.
4. Cash flow visibility lags
Lenders want clarity on forward-looking liquidity, not backward-looking statements.
5. Difficulty responding to follow-up questions
When data isn’t centralized, even simple lender questions require a manual rebuild.
These problems don’t scale – especially in funds with diverse assets, complex capital structures, or multi-layered debt arrangements.
Lenders expect real-time transparency – not quarterly snapshots
Gone are the days when static quarterly financial statements sufficed.
Today’s lenders often request:
- Up-to-date valuations
- Monthly cash flows
- Real-time leverage metrics
- Portfolio-wide exposure dashboards
- Tenant-level details
- Market trends
- Stress tests and scenario modeling
They also want consistency across:
- Asset-level data
- Fund-level performance
- Debt service metrics
- Cash projections
- Collateral valuations
If the story breaks anywhere, confidence breaks everywhere.
And lenders are increasingly aware of the operational maturity gap between firms.
Fund finance Is becoming a data conversation, not just a credit conversation
What used to be a negotiation over terms is now a negotiation over data discipline.
GPs who can produce:
- Clean data
- Fast reporting
- Live dashboards
- Traceable valuations
- Automated exposure rollups
- Scenario models
…gain negotiating power, faster execution, and better pricing.
GPs who can’t are penalized – or pushed toward more expensive structures.
This is the core message emerging from CFOs: Operational readiness determines financial flexibility.
How Pereview supports NAV lending, hybrids, and fund finance workflows
Pereview consolidates asset, debt, fund, and investor data into a single source of truth – exactly what lenders expect and CFOs need.
1. Unified Asset + Debt + Fund Data
Firms can present a complete, reconciled view of the entire portfolio – no manual stitching required.
2. Real-Time Valuation Dashboards
Updated performance metrics, market data, and valuation inputs flow into one environment for lender-ready transparency.
3. Automated Exposure Reporting
Instant visibility across sectors, geographies, tenants, sponsors, and lenders – eliminating Excel-driven errors.
4. Accurate Cash Flow Forecasting
Centralized data supports real-time modeling of DSCR, liquidity, and forward-looking risks.
5. A Complete Audit Trail
Every assumption, update, and data point is traceable – critical for lender due diligence.
6. AI-Powered Data Ingestion
PMC files, rent rolls, financial statements, and internal models are automatically classified, mapped, and validated.
7. Faster Deal Execution
Because data is already reconciled, reporting packs, lender questions, and scenario analyses can be produced in minutes – not weeks.
When firms have clean, accurate, and real-time data, fund finance becomes a strategic advantage – not a fire drill.
Better data means better liquidity options
As fund finance grows more sophisticated, the firms that invest in data infrastructure will have:
- Faster, cheaper access to capital
- More lender trust and flexibility
- Smoother NAV and valuation workflows
- Stronger LP relationships
- Better operational governance
The firms that don’t will struggle to secure financing at competitive terms – or at all.
Fund finance is no longer just about collateral. It’s about the quality, speed, and consistency of the data behind it. Pereview is the platform that delivers it.
