Infrastructure Secondaries Daily

87% of NAV Meets a $15B Infra Fundraising Push

Monday, July 20, 2026 · 8 min

Infrastructure Secondaries Daily cover art

Jefferies 2025 Global Secondary data puts LP-led fund stakes at 87% of NAV on average, underscoring the cash-value gap as Partners Group closes a $15 billion direct infrastructure program and NAV loans keep moving into LP scrutiny.

Listen

Listen to the audio episode

Read the episode transcript

Show notes

Jefferies 2025 Global Secondary data puts LP-led fund stakes at 87% of NAV on average, underscoring the cash-value gap as Partners Group closes a $15 billion direct infrastructure program and NAV loans keep moving into LP scrutiny.

In this episode

  1. LP-Led Secondaries Explained: Why Funds Sell Below NAV — Angel Investors Network

    ![Angel Investors Network](/assets/logo-white-D6biM3LS.png) # LP-Led Secondaries and the NAV Discount: Why Fund Stakes Trade Below Reported Value LPs selling private equity fund stakes in 2025 got 87% of reported NAV on average, and buyout stakes fetched 92% while venture stakes fetched just 78%, according to the Jefferies 2025 Global Secondary ![LP-Led Secondaries and the NAV Discount: Why…

  2. Partners Group | — Les Echos Comfi

    Partners Group | publié le 20/07/2026 à 09:00 par Partners Group (isin : CH0024608827) # Partners Group closes fourth direct infrastructure program at over USD 15 billion Partager ce communiqué de Partners Group sur Facebook Partager ce communiqué de Partners Group sur X (Twitter) Partager ce communiqué de Partners Group sur LinkedIn Partager ce communiqué de Partners Group par email |…

  3. ECP eyes $8bn close after LPs back hard-cap revision — Infrastructure Investor

    # ECP eyes $8bn close after LPs back hard-cap revision Published: 2026-07-17T19:40:31+00:00 Source: infrastructureinvestor.com (infrastructureinvestor.com) Language: en ## Story ECP eyes $8bn close after LPs back hard-cap revision [![Infrastructure Portfolio…

  4. NAV Loans Explained: PE Fund Financing and the DPI Controver — Angel Investors Network

    NAV Loans Explained: PE Fund Financing and the DPI Controver A NAV loan is a line of credit that a private equity fund borrows against the current value of the companies it already owns, not against the money its investors still owe. The market has grown to roughly $100 billion as of 2024 and could hit $600-700 billion by 2030, according to ILPA's July 2024 guidance citing the Fund Finance…