Overview
Every LP transfer on the Navys platform follows a structured workflow with three main phases: Pre-Transfer, Transfer, and Completion.
This article provides a high-level walkthrough of the entire process. Each step is covered in detail in its own article, as linked below.
Phase 1: Pre-Transfer
The Pre-Transfer phase focuses on gathering information and obtaining preliminary approval. The first two steps, Questions to Transfer Parties and Approval in Principle, must be completed sequentially. Questions to Transfer Parties must be completed before the GP can grant Approval in Principle.
Once Approval in Principle is granted, the remaining Pre-Transfer step (Due Diligence Questions) and all Phase 2 steps are unlocked and can be progressed non-sequentially. This means parties can work on multiple steps at the same time rather than waiting for each one to finish before starting the next.
Questions to Transfer Parties: The GP asks questions to gather essential information from the Transferor and Transferee. Both parties respond directly on the platform. The GP reviews responses and requests follow-ups if needed. For full details, see Questions to Transfer Parties (Pre-Transfer)
Approval in Principle: The GP reviews the transfer details and either approves or rejects the transfer. No other party can proceed until this approval is granted. Rejection immediately aborts the transfer. For full details, see Approval in Principle (Pre-Transfer)
Due Diligence Questions: The Transferee poses due diligence questions to the GP. The GP responds (with optional attachments), and the Transferee approves the responses when satisfied. For full details, see Due Diligence Questions (Pre-Transfer)
Phase 2: Transfer
The Transfer phase handles KYC verification, and document negotiation. These steps do not need to be completed in a fixed order, once Approval in Principle has been granted, parties can work through them in parallel. For example, the Transferee can begin KYC Verification while the Transfer Agreement negotiation is already underway.
KYC Verification: The GP submits KYC requirements, and the Transferee provides the required documentation. The GP reviews and approves each requirement. For full details, see KYC Verification (Transfer)
Transfer Agreement: All parties negotiate the transfer agreement. Version tracking with Redline allows parties to upload revisions, add review notes, and approve the final version. For full details, see Transfer Agreement (Transfer)
Subscription Agreement: The Transferee completes a digitised subscription form. The GP reviews, adds notes, and approves when satisfied. For full details, see Subscription Agreement (Transfer)
Additional Documents: Optional supplementary documents such as side letters and tax certificates are managed here. For full details, see Additional Documents (Transfer)
Phase 3: Completion
The Completion phase finalises the transfer. The Signature Process can only begin once all documents from Phase 2 have been approved by the required parties.
Signature Process: All parties electronically sign the transaction documents via DocuSign. Progress is tracked per party (GP, Transferor, Transferee). For full details, see Signature Process (Completion)
Transfer Closing: Once all documents are signed, the GP closes the transfer. The system generates a Closing Bundle, updates the Investor Registry (for GP subscribers), and locks the transfer as read-only. All parties can download their relevant documents. For full details, see Transfer Closing (Completion)
For detailed guidance on any specific stage, see the individual articles for each workflow step. If you need further assistance, contact [email protected].