Insights

A look inside Pemberton’s AGM 2026: The conversations shaping European private credit. This year, we brought together an unprecedented gathering of LPs from across the globe, including some of the world’s largest allocators, for a day of discussion on the structural drivers behind European mid-market growth and the opportunities ahead. Thank you to everyone who […]

CLO Documentation can seem daunting at first, but every document exists for a reason. In our latest CLO Insights Series, produced in association with Weil, Gotshal & Manges (London) LLP, we walk through the full suite of documents that govern a CLO: what they contain, how they fit together, and why they matter to investors.

Many private equity sponsors adopted a more selective stance in Q1 2026 amid AI-driven disruption in the software sector and continued geopolitical uncertainty. Yet deal pipelines are building, and our own activity remained strong across the quarter. In this edition of our European Mid-Market Monitor, we examine the evolving dynamics of the software sector and […]

While private credit headlines continue to focus on US market stress, we believe a different story is unfolding in Europe. Our latest Viewpoint takes a data-driven look at the structural drivers and current market conditions that make European private credit a compelling relative value opportunity with a strong growth outlook.

Risk Retention, sometimes referred to as ‘skin in the game’, is an important requirement serving to align the interests of investors and other parties in a CLO transaction.  In our latest CLO Insights Series, we take a deep dive into the Risk Retention Rules, examining how they apply under both EU and UK securitisation regulations […]

The fifth edition of the SRT Chronicles, our annual research publication on the significant risk transfer market, provides an update on the market and developments of the SRT asset class.

A factual analysis of recent media coverage, the issues driving it, and why the concerns raised are largely specific to US markets. There has been no shortage of headlines on private credit in recent months. As the asset class grows and begins to represent an increasingly meaningful share of broader debt markets, scrutiny is a natural and healthy part of the process. However, understanding where challenges genuinely exist, and where the market remains fundamentally and structurally sound, requires clear distinctions to be drawn between its different parts.

How do CLO managers balance the complexity of over 100 leveraged loans while protecting investor value?  In our latest CLO Insights Series, we examine the importance of portfolio optimisation throughout a CLO's lifecycle, from the initial ramp-up through active management and beyond the reinvestment period.  The article explores the constraints CLO managers work within, from eligibility criteria to collateral quality tests to coverage ratios, and how these protect noteholders while giving managers scope to enhance portfolio resilience.

Who’s who in CLOs? Issuing a CLO involves multi-disciplinary teams of specialists all working together. The number of parties involved in the creation of a CLO can be bewildering. In our latest CLO Insights Series, we break down the roles and responsibilities of each participant in a typical CLO structure. From the Collateral Manager and […]

The opening market conditions for 2026 closely mirror those seen at the end of 2025: a market characterised by gradually compressing base rates, sustained borrower demand, and an expanding opportunity set across the mid-market. In 2025, European mid-market enterprise values rose 6.7%, according to Lincoln International’s European Private Market Index, outperforming the FTSE 250 EV […]

At Pemberton, we work closely with our portfolio companies in practical, action-oriented partnership.  Since 2023, 80+ borrowers* have attended our Responsible Investing Workshop series, designed to strengthen risk management and build resilient companies poised for growth.   Closing out 2025, we delivered three targeted workshops on themes identified by our portfolio companies and delivered by external experts:  Read […]

How do CLO managers balance risk and return while maintaining portfolio quality standards? In the latest article in our CLO Insights Series, produced in association with Weil, Gotshal & Manges (London) LLP, we provide an analysis of Collateral Quality Tests and the matrices that guide CLO portfolio management. The piece breaks down five essential quality […]