17Capital: Strategic Lending Fund 6 Closed At $5.5 Billion

By Amit Chowdhry • Jul 24, 2025

17Capital, a prominent NAV finance provider, announced the final close of its 17Capital Strategic Lending Fund 6 with about $5.5 billion in commitments, including co-investments and affiliates. Following Fund 5, which closed at $2.9 billion in July 2021, it is now one of the top five private credit funds in 2025.

Since inception, the firm has raised $19 billion. Fund 6 attracted a diverse global investor base including pension funds, insurance companies, sovereign wealth funds, family offices, and endowments from various regions. This success shows industry acceptance of NAV finance and is the first fund since partnering with Oaktree.

Fund 6 committed $2.5 billion across ten investments, equally divided between the US and Europe, supporting GP growth, larger commitments, and succession plans. Besides Strategic Lending, 17Capital offers a Credit program providing NAV loans to private equity buyout funds. Since 2020, its Credit Fund deployed $6.7 billion.

The firm remains active in fund-level financing as the NAV loan market grows. It also pledges part of its carried interest from the Fund to Epic, a nonprofit aiding disadvantaged youth, continuing a commitment since 2017 with Fund 4, and through Fund 5 and the Credit Fund.

KEY QUOTES:

“We are grateful to our investors for their continued trust and support. Reaching the hard cap for Strategic Lending Fund 6 is a significant milestone for 17Capital in our 17th year. It reinforces our position as a leading NAV finance provider and enables us to keep supporting high quality private equity managers as they increasingly use NAV finance at the management company level.

Pierre-Antoine de Selancy, Managing Partner at 17Capital

“Since opening our New York office in 2016, we have extended our leadership in NAV finance across the US, deploying over $6 billion across more than 30 US investments. This is reflected in Fund 6, where half of the existing portfolio is invested with US managers. We are also encouraged by the strong response from US-based investors, who increasingly view NAV finance as a compelling alternative within an otherwise crowded private credit market.”

Dane Graham, Partner at 17Capital

“The successful $5.5 billion close of Fund 6 is a strong endorsement of 17Capital and the NAV finance market we have been pioneering since 2008. NAV finance is now firmly established as a standalone asset class within private credit. We are proud to have the continued support of our investors, including those who have partnered with us for 17 years, across the full 17Capital platform, where we have raised $19 billion exclusively for NAV finance to date.”

Fokke Lucas, Partner at 17Capital