While most of the market noise in fund financing continues to be centered around subscription credit facilities, as liquidity becomes an increasing priority, GPs are looking to lenders for NAV and preferred equity structures. In this Unquote podcast, Matt Hansford of Investec unpacks the rationale for such facilities, including efficiency, flexibility of payment and reduced interference with portfolio management. Under the lens of COVID-19, Denise Ko Genevese (Unquote) and Oscar Geen (Debtwire) discuss the drive toward these pricier facilities as an additional source of capital for funds which are fully deployed, have exhausted other capital sources, or are otherwise seeking additional buffers in these uncertain times. The podcast is accessible here.