Insights

At Pemberton, we work closely with our portfolio companies in practical, action-oriented partnership.  Since 2023, 80+ borrowers* have attended our Responsible Investing Workshop series, designed to strengthen risk management and build resilient companies poised for growth.   Closing out 2025, we delivered three targeted workshops on themes identified by our portfolio companies and delivered by external experts:  Read […]

How do CLO managers balance risk and return while maintaining portfolio quality standards? In the latest article in our CLO Insights Series, produced in association with Weil, Gotshal & Manges (London) LLP, we provide an analysis of Collateral Quality Tests and the matrices that guide CLO portfolio management. The piece breaks down five essential quality […]

Financing private equity’s next phase of growth with non-dilutive capital through Pemberton’s GP Solutions. GP Solutions is one of Pemberton’s two specialist strategies that enable GPs to unlock value creation. Our fund-level NAV Financing strategy helps GPs raise liquidity and capital in support of a myriad of fund level applications, while our GP Solutions strategy is dedicated to the strategic needs of GPs. Contact us […]

What is a CLO waterfall and what does it do? The “waterfall” is one of the more colourful phrases used by the CLO community. Formally called “Priorities of Payments”, this mechanism controls how interest and principal proceeds flow from CLO assets to investors. Our latest CLO Insights breaks down exactly how these waterfalls operate, and […]

Valuations remain an important barometer for LGPS Funds, making now an ideal moment to revisit the strengths of European Private Credit. In our latest paper, we delve into how European mid-market lending can help support inflation-linked cashflows while also serving as a key driver for economic growth. With mid-market companies employing one in six people […]

Private credit capital is moving to Europe. In our latest Viewpoint, we analyse H1 2025 asset allocation data revealing a marked shift toward Europe compared with 2024, a strong indicator of a longer-term trend. Following our first article on Europe’s renewed focus post-US trade policy changes, we now examine what’s driving institutional capital reallocation and […]

CLO structures incorporate mechanisms designed to protect investors across varying credit environments. Historical performance data from Standard & Poor's confirms negligible defaults across multiple stress periods, from the 2008-09 crisis through the recent inflation cycle.

We’re seeing a major shift in the market: CVs now make up 16% of sponsor exits, yet >85% of LPs aren’t rolling their stakes, leaving significant potential upside on the table. The time has come to reconsider how NAV loans can deliver liquidity, protect fund metrics, and ensure LPs retain 100% of the upside in […]

As we close Q3 and look ahead to year-end, the European mid-market continues to demonstrate resilience despite broader macroeconomic challenges. M&A volumes in Europe remain steady, with over half of our introductions this quarter tied to sales processes, while refinancings, including Continuation Vehicles, continue to represent a prominent theme. In our quarterly European Mid-Market Monitor, […]

The Standard of Care is central to CLO management. In the second edition of our CLO Insights Series, we examine its practical impact on managers’ responsibilities. The principle is straightforward but important: CLO Managers must manage capital with the same level of skill and attention they apply to comparable assets across their business. Reasonable care […]

In a market environment characterised by ongoing disruptive events, investors are seeking reliable and predictable sources of return.  Mid-market direct lending, when guided by a clear strategy and executed with discipline, can provide precisely that— predictable, reliable, risk-adjusted returns.   In our latest insights, we explore how Pemberton’s investment focus, through successive fund generations and structural […]

Market shifts naturally create new dynamics for general partners, bringing new opportunities for growth. For those ready to act, these changes can serve as a catalyst for long-term success.   Pemberton’s GP Solutions provides GPs with non-dilutive capital that unlocks the value appreciation of their prior fund investments that can be reinvested to support future fund […]