Brookfield Credit invests $1bn in 17Capital’s private credit strategies

Brookfield Credit – the private credit investment division of Brookfield Asset Management – has made a $1bn (£0.79m) investment in NAV financing specialist 17Capital.

17Capital also announced that it has deployed approximately $3bn across 16 investments over the past 12 months, as demand for NAV finance continued to grow.

“We are very pleased to see the continued growth and adoption of NAV financing for a variety of use cases, in line with our market predictions,” said Dane Graham, partner, head of North America of 17Capital.

Read more: NAV finance: Behind the headlines

“As one of the only dedicated providers of NAV financing, 17Capital has proudly built the longest track record of execution in this space and we are pleased to be the partner of choice to leading global investment managers like Brookfield.”

To date, 17Capital has completed more than 100 investments and 50 exits, deploying more than $13bn since inception.

Read more: Funds begin using unsecured NAV financing

Brookfield owns Oaktree Capital Management, which acquired a majority share of 17Capital in 2022.

“As one of our strategic credit partners, we view 17Capital’s NAV finance solutions as differentiated, scalable, and highly attractive for Brookfield and our insurance clients, especially with a rated note feeder,” said Craig Noble, chief executive of Brookfield Credit.

“We are pleased to support 17Capital, who we consider to be the clear leader of providing NAV finance to the private equity industry.”

Read more: 17Capital opens Dubai office and boosts US investment team