Asset management firm Pemberton has raised an extra €3.2bn for its European Mid-Market Debt strategy thanks to a pair of new funds.
The firm, which is backed by insurance major Legal & General, has closed the capital across its European Mid-Market Fund II and debut UK Mid-Market Fund.
Pemberton closed its first European Mid-Market Fund on €1.2bn in 2016, landing commitments from 27 institutions including the Illinois Teachers Retirement System.
Pemberton also pulled in €1bn for its Strategic Credit Opportunities Fund, a primary-focused credit opportunities vehicle, earlier this year as it looks to diversify its investment platform.
Symon Drake-Brockman, Managing Partner of Pemberton, said, “This growth is testament to the confidence that investors have in Pemberton.
“We are established as a strong, long-term steward of their capital. And we continue to build a platform that provides innovative opportunities across the capital structure for investors and borrowers.
“As banks continue to de-risk and de-lever, there are several trillion that will need to come off their balance sheets in the coming years.
“With one of the largest pan-European teams dedicated to direct lending opportunities, Pemberton is well-placed to connect capital and fill this funding demand that stems from borrowers across the region.”
Recent deals from Pemberton include backing Bulgin, a UK-headquartered manufacturer of environmentally sealed high-performance engineered solutions, and Laboratorios Larrasa, a clinical and genetic laboratory business headquartered in Spain.
Pemberton opened two new offices in the first six months of the year, expanding into Amsterdam and Copenhagen, as well as strengthening its team with 10 new people.
That included the appointment of Boris Harmsen as managing director and head of Benelux and Jean Tournaire as portfolio manager.
Copyright © 2019 AltAssets
No comments:
Post a Comment