Pioneers in NAV financing
We provide purpose-built NAV and GP financing solutions for private equity investors and their portfolio investments across North America and Europe.
Since 2013, we have been at the forefront of providing tailored fund financing solutions to middle-market sponsors, specializing in NAV financing, and GP & management company financing solutions.
As pioneers of NAV financing, we bring deep expertise, certainty of execution and a long-term partnership orientation to solutions that evolve with your needs.
Our People
Deep fund finance expertise guided by a highly experienced leadership team
The Hark Capital team blends innovation with decades of industry experience — grounded in collaboration, and driven by integrity and excellence.
Doug Cruikshank
Founder & Managing Partner
Rafael Castro
Partner
Rich Davis
Partner
Ben Lee
Principal
Peter Wright
Director
Diane Moore
Vice President
Will Randell
Vice President
Salonee Ferrao
Senior Analyst
Andrew Dunn
Analyst
Alex Bockler
CFO & CCO
Ronak Patel
Controller
Caitlin Hilmer
Executive Assistant
Doug Cruikshank
Founder & Managing Partner
Rafael Castro
Partner
Rich Davis
Partner
Ben Lee
Principal
Peter Wright
Director
Diane Moore
Vice President
Will Randell
Vice President
Salonee Ferrao
Senior Analyst
Andrew Dunn
Analyst
Alex Bockler
CFO & CCO
Ronak Patel
Controller
Caitlin Hilmer
Executive Assistant
Purpose-built financing for private markets
NAV-Based Loans
01Flexible, non-dilutive capital backed by the unrealized value of underlying portfolio investments.
Designed to support a broad range of fund- and portfolio-level objectives, including follow-on investments, liquidity management, capital structure optimization, and other strategic initiatives.
GP & Management Company Financing
02Customized financing solutions backed by management fees, GP commitments, and carried interest.
Enables GP co-investments, succession planning, and seed capital to launch new strategies or expand the franchise.
Customized Solutions
03Bespoke financing structures supported by uncalled capital, concentrated portfolios, or portfolios of limited partnership interests.
Includes solutions for single-asset or multi-asset continuation vehicles, preferred equity financing, and capital tailored for family offices and ultra-high-net-worth investors.
$50 million NAV facility for a middle-market private equity firm focused on healthcare investments to finance the acquisition of a portfolio company.
$65 million NAV facility for a middle-market private equity firm focused on consumer investments to refinance portfolio company leverage and provide operating capital.
$85 million NAV facility to a private credit manager specializing in mezzanine credit investments to refinance portfolio company leverage and provide working capital.
$50 million management company facility to a middle-market private equity firm focused on industrial investments to fund GP commitments and facilitate an ownership transition.
$30 million NAV facility to a venture capital fund of fund investor to fund investment activity.
Hark Capital provides $57.5 million NAV facility to Insignia Capital Group
Hark Capital, through its managed funds, announced the closing of a $57.5 million NAV facility, providing flexible capital to support portfolio-level liquidity, follow-on investments, and ongoing value creation initiatives.
NewsDoug Cruikshank on the Evolution of Fund Finance
Doug Cruikshank joins The Credit Clubhouse to discuss how fund finance has matured, the rise of NAV lending, and the market forces shaping today’s private equity landscape.
NewsHark Capital Provides $50 Million NAV Facility to Pharos Capital Group
Hark Capital, through its managed funds, today announced the closing of a $50 million NAV facility with Pharos IV-A, L.P., a middle-market private equity fund focused on healthcare companies.
InsightsQ2 2025 NAV Lending Overview
A rebound in portfolio company performance and stabilizing valuations in Q2 2025 drove renewed NAV lending activity, as sponsors sought capital for follow-ons and liquidity events.
NewsFusion Connect Secures $85M Term Loan From Hark Capital to Fuel Strategic Growth
Fusion Connect, a proven leader in cloud communications services, announces a new NAV-based loan agreement with Hark Capital.
InsightsQ1 2025 NAV Lending Overview
Challenging market conditions in Q1 2025 have increased reliance on NAV lending for growth and stabilization.
InsightsHark Capital on Bridging the Equity Gap
In a cash constrained environment, NAV lending is increasingly proving itself as a vital component of fund performance.
Partner with us
Whether you're seeking additional capital at the fund, manager, or portfolio level, we're here to help. Let's connect and explore a solution tailored to your needs.
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