Food Manufacturing is a resilient industry with limited volatility and low correlation to GDP cycles, as individual spend on food consumption is non-discretionary. These key attributes make it a core investment sector for Pemberton. Over the last four years we have made 12 investments across Europe in this sector and deployed €1.5bn of investor capital. […]
European Direct Lending – Review and Outlook We are pleased to publish a Review and Outlook of European Direct Lending, written by Saïd Business School-University of Oxford with the assistance of proprietary data from Pemberton, and a legal perspective on the direct lending market by Latham & Watkins. The report documents the characteristics of private […]
Spain is an increasingly attractive market for private debt investors. As the country’s banking sector faces another wave of mergers, direct lenders will have the opportunity to expand on the back of the banks’ reduced capacity to cover the mid-market space.
In this brochure we aim to answer the questions most frequently asked about European direct lending.
We continue to work closely with our portfolio companies across Europe as the world moves to the next stage of the coronavirus crisis.
Government responses to coronavirus have been swift and substantial. However, European support measures announced to date are not coordinated and vary from country to country.
France is an increasingly attractive market for private debt investors thanks to a powerful mixture of structural and temporary factors.
One of a series of papers where our in country leaders examine key themes and trends important to investors and corporates in Europe.
The European macro outlook continues to be supportive for private debt.
Q1 2019 saw a broad rally across asset classes to levels last seen before the sell-off in Q4 2019.
We believe that most of the Direct Lending capital in the market over the last 12 months has been directed towards the Upper MidMarket (deals with an Enterprise Value above €500 million), where investment opportunities are readily accessible through investment banks and sponsors.
Q3 saw the ~75bp summer widening in syndicated loan markets completely reverse in the face of dwindling supply, negligible pipeline and record CLO issuance. However, recent market weakness has seen syndicated loan yields start to widen once again.
For further information or if you have a specific query, please get in touch.
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