Dave Philipp

Dave Philipp is the Executive Managing Director and Head of Fund Liquidity Solutions at Crestline Investors, where he structures NAV loans and credit-based solutions for private equity fund portfolios. He views fund-level lenders as strategic partners—not lenders of last resort—whose goal is an orderly, highly accretive bridge to planned portfolio exit events. Philipp has seen rapidly growing adoption of NAV financing across private equity, real estate, growth equity, and infrastructure strategies.

• Nav lending as a bridge to planned asset exits in private equity funds
• Fund-level credit structures and how they differ from asset-level leverage
• Misconceptions about NAV lenders seeking portfolio takeovers
• Underwriting concentrated credit portfolios versus diversified LP portfolios
• Use cases across PE, real estate, growth equity, and infrastructure
• Governance protections and covenants in fund-level lending structures
• Growing adoption of structured solutions among first-time NAV borrowers
• Duration arbitrage as the core value proposition of NAV financing

Liquid Courage Episodes

• In the Booming Secondary Market, Structured Solutions are Going Mainstream2026-02-18