Insights

The first quarter of 2025 saw a continued improvement in the quality of new deal introductions, with M&A processes gaining notable momentum and outpacing refinancing and recapitalisation activity. This positive start has established a solid foundation for the second quarter. In our European Mid-Market Monitor, we explore key trends and developments in direct lending and spotlight the technology sector, one of our most active areas in 2024 and an ongoing source of high-quality opportunities. We also provide regional insights from the Benelux market, which remains resilient and active in M&A despite broader global headwinds.

Pemberton Asset Management group of companies (“Pemberton” or the “Group”) recognises that governance and sustainability factors can both present investment risks and act as drivers of value creation.

In SRT Volumes: The Road to $200bn, Olivier Renault, Pemberton’s Head of Risk Sharing Strategy, explores key drivers behind the market’s expansion and its path to a potential $200 billion milestone.

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

We believe the outlook for European Direct Lending in 2025 is positive. Lower European base rates are expected to support M&A activity, reduce borrowing costs, and drive default rates towards historic lows. This backdrop continues to fuel the systemic transition from traditional bank lending to long-term asset managers backed by pension funds and insurance capital. […]

As NAV Financing continues to gain traction across the private credit industry, it’s becoming a powerful tool for private equity funds to address diverse needs—from fueling growth to supporting portfolio stability.

Symon Drake-Brockman recently shared his insights with Giovanni Amodeo from ION Analytics / Debtwire.

Our 2023/24 sustainable investing report has been published and looks at the consideration of ESG factors in the investment process, the levers in private credit to incentivise progress and how best practice in sustainable investing is a risk mitigant, providing better downside protection for investors. The take-up of best practice sustainable investing within private credit […]

Executive Summary Yields and relative value in private credit remain high. Pemberton’s mid-year review looks at the trends of the first 6 months of the year and finds an overall improved picture with strong momentum for private credit: Opportunities up, margins tightening, but yields and relative value remain high. The trends observed in Q4 2023 have […]

We are pleased to share this inaugural Task Force on Climate-Related Financial Disclosures (“TCFD”) report.

The rise of NAV financing for private equity buyout funds is drawing the attention of insurance company chief investment officers due to the attractive risk/return characteristics and strong structural credit protection features in a nascent and fast-growing asset class.

The growth and return opportunities for direct lending in Europe’s mid-market are highly attractive.With banks continuing to reduce lending volumes and increased market volatility reducing thepredictability of public financing markets, private credit has emerged as a robust solution for borrowersand LPs alike.However, direct lending portfolios have been tested by slower economic growth, the impact of […]