Pemberton targets more than €4bn for mid-market debt strategy

Pemberton Asset Management is looking to raise more than €4bn (£3.4bn) for the fourth vintage of its mid-market debt fund.

The fundraising, which is set to be completed in October, could reach as much as €5bn, according to sources cited by Bloomberg.

Pemberton’s mid-market strategy lends to businesses generating annual core earnings of €15m to €75m.

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The London-headquartered asset manager is also currently fundraising for its second-generation senior loan fund, the sources said in the Bloomberg report, which should close with between €3bn and €3.5bn in the first quarter of 2025.

This strategy provides senior secured loans of between €50m and €250m to firms generating annual core earnings of between €25m and €100m.

Earlier this month, Pemberton announced that a subsidiary of the Abu Dhabi Investment Authority (ADIA) has agreed to invest in its NAV Strategic Financing strategy. Pemberton expects a first close in excess of $1bn (£789,000) in commitments for the new fund.

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