Strategic Capital
The Strategic Capital Strategy is Our Innovative and Solutions-Based Offering
Opportunistic ‘through the cycle’ mandate, providing flexible capital solutions across senior and subordinated loans and opportunistic equity investments.
€5.9bn
Cumulative Capital Raised1
€7.6bn
Cumulative Capital Deployed2
44
Companies Invested3
The Strategy Focuses on Investments in:
- Leading European mid-market companies with EBITDA typically between €15 million and €100 million;
- Senior secured loans with first-ranking seniority but can also invest across the capital structure to provide solutions to borrowers.
The strategy differs from our other strategies by seeking out investment opportunities which feature additional complexity that often require bespoke financing solutions and additional deep-dive credit assessment.
Bespoke Financing
Opportunities include carve-outs, buy-and-builds, growth capital and recovery capital. Whilst the strategy predominantly focuses on primary investments, in periods of market dislocation the strategy also focuses on incomplete syndication processes and opportunistic secondary market investments in companies and sectors that are already well known to the firm.
The strategy focuses on performing credit rather than stressed/distressed debt and loan-to-own debt investments.Depending on the credit quality of the borrower, the strategy is able to provide subordinated debt to strongly performing companies with non-cyclical cash flows and high equity buffers. The strategy can also generate additional returns through warrants and equity investments as part of the debt investment.
Similar to our Mid-Market Debt and Senior Loan strategies, we have regular access to management and financial information that enables us to closely monitor loans post-close. The strategy is managed by Portfolio Managers Ben Gulliver and Robin Challis.
¹Source: Pemberton Capital Advisors LLP, June 2025. AUM defined as committed capital since inception.
2Includes recycled capital during the investment period.
3As at June 2025.
Meet the Team
Read the Latest Pemberton Insights
For more information, visit ‘Insights’, or click on our latest article.
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Pemberton Outlook 2025 
Pemberton Outlook 2025
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. […]
Selected Recent Investments
SCF | Veezu – MML Capital
a portfolio company of
Term Loan & Acquisition Facilities
October 2024
SCF | Ayesa – A&M Capital
a portfolio company of
Term Loan & HoldCo PIK
July 2024
SCF | Microtest – Xenon
a portfolio company of
Term Loan & Acquisition Facilities
July 2024
SCF | Fletchers Sun Capital – June 2024
A portfolio company of
Acquisition Facilities
June 2024
SCF | FluidOne Livingbridge – May 2024
A portfolio company of
Term Loan & Acquisition Facilities
May 2024
SCF | Maccaferri Ambienta – May 2024
A portfolio company of
Term Loan & Acquisition Facilities
May 2024
SCF | Juvise Pharma BPIFrance – April 2024
A portfolio company of
Term Loan Facilities
April 2024
SCF | Donte Group Advent – November 2023
A portfolio company of
Term Loan & Acquisition Facilities
November 2023
Find Out More About Our Other Strategies
Click here for an overview of Pemberton’s Strategies.
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