Pemberton’s latest direct lending fund closes with €2.3bn
Pemberton Asset Management has announced the close of the third iteration of its Strategic Credit Fund with €2.3bn (£1.97bn).
Strategic Credit Fund III is one of Europe’s largest opportunistic direct lending funds. Since its launch in 2017, Pemberton’s strategic credit opportunities strategy has amassed assets under management (AuM) of €4.9bn.
“In the current cycle of inflation, high interest rates and retrenching capital markets, we have seen increasing demand for versatile European direct lending funds from both new and existing investors,” Robin Challis, partner, strategic credit, Pemberton.
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“The agile nature of the strategy has enabled us to execute and deliver on the funds’ flexible mandate and deliver highly attractive risk-adjusted returns to our investors.
“We look forward to continuing to provide financing solutions for borrowers with increasingly complex needs.”
Pemberton’s strategic credit funds invest in primary performing companies across Europe, and have deployed €5.4bn across three vintages.
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The third iteration of the fund has attracted both new and returning investors, including public and private pension funds, insurance providers and financial service investors from across Europe, North America, Asia and the Middle East.
“Pemberton’s family of three direct lending funds continue to deliver value and attractive risk-adjusted returns for investors,” said Ben Gulliver, Pemberton’s head of portfolio management and co-head of direct lending.
“The key to this success is our platform of nine offices across Europe for originating investments and one of the largest investment teams in the market, providing us with a distinct advantage in identifying, evaluating and realising investment opportunities.”
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