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Private Debt Investor Expert Q&A: Why LPs are Warming to NAV Financing

Private Debt Investor Expert Q&A: Why LPs are Warming to NAV Financing

NAV financing is not new and has been applied to many asset classes. However, the focus has now turned to NAV financing for private equity buyouts, always secured on a diversified portfolio of performing companies. NAV financing is an incredibly flexible financing tool and can be applied to solve a myriad of liquidity and capital […]

NAV Financing: Unlocking Value Creation

NAV Financing: Unlocking Value Creation

NAV financing is a very flexible fund finance tool that is used to help solve liquidity and capital needs. Pemberton’s solutions can enable the fund and/or its investors to unlock the value created in a fund, which can be re-deployed to support growth initiatives, preserve value or facilitate distributions to investors.

Risk Sharing Transactions: A Relative Value Perspective

Risk Sharing Transactions: A Relative Value Perspective

In a previous research piece1 we discussed the resilience of the Risk Sharing (SRT2) asset class to credit stress. The majority of investors we speak to acknowledge the attractiveness of Risk Sharing in terms of headline return and stability. One of the most pervasive questions we encounter, however, relates to the relative value of SRTs vis […]

Significant Risk Transfer (SRT) Chronicles 2023

Significant Risk Transfer (SRT) Chronicles 2023

The bank balance sheet securitisation market has enjoyed significant growth over the past five years and looks set to continue apace on the back of clearer regulation, an increasing number of banks having acquired the technology and economic incentives for banks to free up risk-weighted assets (‘RWA’) rather than raising capital. In this article, we […]

NAVigator Series 2023

NAVigator Series 2023

A Guide for Private Equity Stakeholder Engagement Net Asset Value (“NAV”) Financing has been a commonplace activity in banks for decades. The financing of the NAV of fund portfolios has been applied to all manner of liquid and illiquid asset classes for many years, including but not limited to equity funds, credit funds (bond or […]

The Resilience of Risk Sharing Transactions to Stressed Credit Environment

The Resilience of Risk Sharing Transactions to Stressed Credit Environment

In Pemberton’s most recently published article, Pemberton’s Risk Sharing Team, Olivier Renault and Anna Neri introduce how bank risk sharing transactions have become an increasingly popular tool for banks to hedge their loan portfolios and release capital, while aiming to illustrate the strong resilience of risk sharing transactions to credit stresses. The article further addresses: […]

Extracting Investor Value From Banks’ Core Loan Portfolios

Extracting Investor Value From Banks’ Core Loan Portfolios

In his most recently published article, Olivier Renault provides an informative introduction to risk sharing transactions (SRT’s), in which the motivations behind these transactions and their structures are revealed, and a clear outline of their growing market created.

Significant Risk Transfer (SRT) Chronicles 2022

Significant Risk Transfer (SRT) Chronicles 2022

The bank balance sheet securitisation market has enjoyed significant growth over the past five years and looks set to continue apace on the back of clearer regulation, an increasing number of banks having acquired the technology and economic incentives for banks to free up risk-weighted assets (‘RWA’) rather than raising capital. In this article, we […]

Private Debt in Germany 2021

Private Debt in Germany 2021

Germany is the largest economy in Europe and a major market for direct lending. It has become a focus market for private equity given its economic strength and solidity. The country boasts a wealth of well-run, mid-sized companies – increasingly in nontraditional, non-industrial sectors – and a positive attitude towards private equity as creators of […]

Pemberton Sectorial Series - Telecomms

Pemberton Sectorial Series - Telecomms

Telecoms is a fundamental sector in any economy. Telecom infrastructure provides essential services to a highly diversified customer base but has high capex needs

Private Debt in the UK

Private Debt in the UK

The UK is one of the largest, most developed, and most attractive markets for direct lending in EMEA, facilitated by a robust economy and a largely consolidated banking sector. Current threats such as the Covid pandemic and Brexit will have limited or temporary impact, making the UK a hotspot for new direct lending investment opportunities […]

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