Pemberton Asset Management, a European private credit manager, achieved its fundraise target for its first time NAV Financing Core Fund I at $1.7 billion, with total assets raised across its NAV Financing and GP Solutions strategies now amounting to $2.7 billion.
Pemberton’s NAV Financing strategy provides loans to private equity sponsors, secured against a cross-collateralized pool of underlying portfolio companies, which are typically used to support value accretive bolt-on acquisitions and additional platform investments.
“The successful achievement of an ambitious fundraise target reflects the growing global interest and adoption of these strategies,” Thomas Doyle, partner, head of NAV financing and GP solutions, said. “I would like to thank our LPs and GPs for their continued trust and support.”
“The development of Pemberton’s NAV Financing and GP Solutions strategies, combined with our established direct lending platform and independence, positions Pemberton as a natural long-term partner for the private equity community, given our ability to provide flexible, non-dilutive portfolio company, fund level and GP level capital solutions,” Symon Drake-Brockman, managing partner, said. “The achievement of the final close target further illustrates Pemberton’s ability to offer multi-strategy investment opportunities, for institutional investors seeking attractive risk-adjusted returns through European private credit opportunities.”
