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The Secured Lender

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#3 -_ 1 (1)

March 28, 2024

Source: Private Equity Wire

Private credit manager Pemberton Asset Management (Pemberton) has held the final close of its Strategic Credit Fund III at €2.3bn, bringing total AuM across the three vintages of the strategy to €4.9bn.

 

Pemberton Strategic Credit was launched in 2017 as a differentiated opportunistic direct lending strategy investing in primary performing companies across Europe, deploying €5.4bn across three vintages. The Strategy, which has grown in AuM in each subsequent vintage, targets alpha generation by resolving complexity in performing credits with first lien-focused capital solutions, maintaining downside protection for investors.

The Strategy has continued to invest in sponsor-led transactions across non-cyclical businesses, deploying over €1bn in 2023 and crystalising significant gains throughout the year by partial realisations of the investments made in hung syndication trades.

The Fund’s investor base consists of new and returning LPs, including public and private pension funds, insurance providers and financial service investors across Europe, North America, Asia and the Middle East.