Golub Sees Slowdown in NAV Loans as M&A Picks Up (Correct)

Growth in net-asset-value lending among private equity firms is slowing down amid a pick up in middle-market M&A, according to David Golub, the president of Golub Capital.

“The gap we’ve seen over the last two years between what sellers want to sell their companies for and what buyers want to pay” has narrowed significantly, Golub said in an interview with Bloomberg TV. Golub Capital is a private credit firm with more than $70 billion in capital under management.

WATCH: Golub discusses the future of private credit.

Source: Bloomberg

NAV lending had grown in popularity as interest rates rose as a way for PE firms to raise cash during ...