Aberdeen Standard Investments has closed the fundraising for Hark Capital’s third dedicated NAV-based loan fund at its $400 million hard cap. The fundraising surpassed its target of $300 million. The fund makes NAV loans to portfolio companies of private equity funds to support value creation later in a fund’s life.

Doug Cruikshank, head of fund financing and Hark Capital, commented, “We’re pleased to have hit our hard cap for Hark III, particularly during a global pandemic. We’re grateful for the continuing support of our existing investors and the addition of many new investors to our latest fund. We believe our first-mover advantage and deep expertise in the growing NAV loan space will continue to help general partners improve portfolio investment returns for their limited partners.