Lending

From the rise of NAV finance and hybrid facilities to growing opportunities in the lower mid-market, Ross Dow shares the five developments shaping today’s fund finance market.

Mixed-use” can describe a £48m London development or a £6.5m high-street acquisition — deals with almost nothing in common. OakNorth’s Hemesh Patel on why the label tells you next to nothing about whether a deal is fundable, and what underwriters actually assess in 2026.

Early years education more often than not doesn’t get the attention it deserves. Not from policymakers, not from lenders, and not from the media. And yet the numbers speak for themselves: fewer than one in three local authorities in the UK currently have enough childcare places for children under two, and the DfE estimates the sector needs around 70,000 new places just to meet current demand.

OakNorth’s Ian Fairclough on how AI is reshaping lending decisions for software and technology businesses – and what it means for sponsors and founders raising debt.

OakNorth’s Women in Dealmaking panel on what really matters when choosing a lender – sector knowledge, speed, and access to the decision-maker. Insights from a CFO, debt advisor, PE investor and lawyer.

Last June, at SuperReturn International, the industry’s annual gathering for private equity and credit, the mood around private credit was bullish. Nearly every panel highlighted the relative strength and opportunity in private credit – a golden era, driven by high base rates, public market retreat, and strong LP appetite for yield. 

Today, the tone has shifted sharply. JPMorgan has been marking down the value of software loans sitting in the financing portfolios of private credit clients.