Pemberton and ADIA raise $1bn for NAV financing strategy supporting private equity firms.

Pemberton Asset Management and Abu Dhabi Investment Authority (ADIA) are raising $1bn for a new strategy focusing on net asset value (NAV) financing to support private equity firms. ADIA is anchoring the strategy, expected to close in the coming weeks. NAV financing, which can be controversial due to added leverage, will provide buyout firms with capital to increase commitments or do bolt-on acquisitions.