Insights

We are pleased to share our latest country report on Private Debt in Benelux.

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 […]

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. […]

Direct Lending in Europe: Current Status and Prospects We are pleased to announce the release of “European Direct Lending Review and Outlook,” written from a legal perspective on the direct lending market by the Oxford University Side Business School, utilizing Pemberton’s unique data. This report documents the characteristics of private debt focused on direct lending, […]

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.

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.