Pemberton Asset Management, one of Europe’s private credit managers, 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 funds “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 European private credit manager.”
Pemberton’s Direct Lending strategies offer “flexible, multi-product financing solutions to meet the needs of private equity sponsors and mid-market companies in Europe, as reflected by 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 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.”
Amidst 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.”
Ben Gulliver, Head of Portfolio Management & Co-Head of Direct Lending at Pemberton said:
“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.”
Eric Capp, Global Head of Origination & Co-Head of Direct Lending at Pemberton said:
“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.”
