TSL Express Daily News

Pemberton Asset Management (“Pemberton”), one of Europe’s leading private credit managers, today announces the successful completion of its Direct Lending fundraising cycle, exceeding targets with a total of €8.4bn.  

The cycle includes the final close of Pemberton’s two senior loan funds1 at €6.1bn in 2025 as well as the Strategic Credit Fund III with its final close at €2.3bn in 2024. The latest vintages across the three funds all exceeded the size of the previous funds, which evidences the growing investor appetite for the asset class and reinforces Pemberton’s position as a leading European private credit manager.

Pemberton’s Direct Lending strategies offer flexible, multi-product financing solutions to meet the growing needs of leading private equity sponsors and mid-market companies in Europe, as reflected by substantial deployment levels of €4.6bn across the three Direct Lending strategies2 in 2024.

The three strategies, which primarily target asset-light, high-performing companies in the core mid-market—particularly within dynamic sectors like technology, outsourced business services, biotech, and life sciences—have benefited from sustained investor confidence and a strong re-up rate.  The firm also broadened its investor base outside of Europe with 70 new clients from Asia, the Middle East and North America.

Eric Capp, Global Head of Origination & Co-Head of Direct Lending at Pemberton, commented: “We believe the European core mid-market continues to present LPs with attractive investment opportunities as privately held companies have outperformed public markets for several years3, and dynamic ‘new economy’ companies are at an early stage of consolidation with a promising growth journey ahead. However, and especially in the context of global challenges, credit selection is pivotal for long-term performance and Pemberton’s local market footprint, large teams and extensive expertise means we are well positioned to seize the opportunities.”

Ben Gulliver, Head of Portfolio Management & Co-Head of Direct Lending at Pemberton, adds:

“Amidst heightened geopolitical tensions, private credit can deliver stable floating-rate returns, consistent income and act as a shock absorber for market volatility – exactly what investors would expect the asset class to do in the current environment. The announcement of substantial extraordinary fiscal spending, a likely catalyst for broader economic growth, strengthens the investment case for Europe, and Pemberton’s Direct Lending strategies are well positioned to support investors in accessing this market.” 

– Ends –

Notes to Editors:

All information is correct as at 12th May 2025 unless otherwise noted.