Pemberton's Content Hub delivers European private credit market insights, investment research, and strategy analysis for institutional investors. Explore Direct Lending, GP Solutions, NAV Financing, Working Capital, Risk Sharing and CLO strategy information through quarterly outlooks, sector deep-dives, and responsible investing reports.
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Macroeconomic uncertainty and supply chain disruption make for a compelling investment case, despite idiosyncratic credit events. The following article is based on Pemberton’s understanding of the market at the time of publishing. Introduction Working capital finance continues to offer investors an attractive proposition, diversifying portfolios and introducing liquidity, a case that has arguably strengthened in […]
Introduction At the core of CLO Management is the judgement and expertise of the analyst pool. Not only do analysts need deep accounting knowledge and well-honed commercial skills, but also the ability to work accurately under time pressure. In this CLO Insights, one of the Indigo analysts describes a typical day. A Varied and Interesting […]
Macroeconomic uncertainty and supply chain disruption make for a compelling investment case, despite idiosyncratic credit events. The following article is based on Pemberton’s understanding of the market at the time of publishing. Introduction Working capital finance continues to offer investors an attractive proposition, diversifying portfolios and introducing liquidity, a case that has arguably strengthened in […]
Our previous Viewpoint, Structural drivers and recent market events create a compelling relative value opportunity in European private credit, made the data-driven case for Europe: bank retrenchment, an underpenetrated market serving an economy of comparable scale to the US and a growing private equity pipeline. This paper turns to the question that follows naturally from it: where within the European market is that opportunity most attractive?
Strong Foundations, Resilient Businesses At Pemberton, as lenders to Europe’s mid-market, we can help borrowers navigate a fast-changing sustainability landscape through knowledge-sharing, structured dialogue, aligned incentives and collaboration across our asset class. In 2025 the PRI (Principles for Responsible Investment) set out four practical levers for stewardship in private debt, guidance Pemberton helped shape. We […]
CLOs are a relatively recent innovation, but the investment principles that underpin them have developed over generations. This article traces the ideas, and the thinkers behind them, that continue to shape CLO portfolio management today.
Introduction CLOs are floating rate products, which means that both assets and liabilities are linked to prevailing market rates (benchmark interest rates). This is one of the matching principles that underpins the CLO model (see CLO Insights – CLOs for All Seasons) and serves to reduce duration risk. This feature also has an incidental role […]
In an overall more challenging market environment, refinancing activity in H1 2026 continued to account for a meaningful share of market volumes, while M&A activity improved through Q2 as broader credit markets stabilised. As sponsors re-engaged with execution processes and with deal pipelines continuing to build, we believe the market is well positioned for a […]
Most collateralised loan obligation (CLO) metrics, including Portfolio Profile Tests, Collateral Quality Tests and CLO Coverage Tests, are calculated using the traded balance. Cash flow available to pay noteholders, however, depends solely on the settled balance: the principal and interest that have actually been received. Managing the gap between the two is a core part […]
Strong Foundations, Resilient Businesses: Pemberton publishes Responsible Investing Report 2025/26 As a leader in European private credit, we are committed to delivering long-term value for our investors. Our approach to integrating governance and sustainability considerations is grounded in risk management and capital preservation, while advancing the performance of private mid-market companies in Europe. This builds […]
Building a CLO platform takes more than capital and infrastructure. It requires deep credit expertise and an investment proposition credible enough to withstand institutional due diligence across multiple market cycles.
Pemberton’s Co-Founder and Managing Partner, Symon Drake-Brockman, recently joined Elise Badoy for Citi’s Client Perspectives video webcast for a timely conversation on the status of the private credit market in Europe. Several dynamics are driving private credit market growth including sector consolidation at an early stage, ongoing transition from bank to non-bank lending and fiscal […]
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 […]
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