CLOs

Collateralised Loan Obligations (“CLOs”)

Pemberton’s CLO strategy invests in publicly rated, broadly syndicated leveraged loans, which are typically used to fund sponsor driven or corporate M&A activity. Such loans are originated by major arranging banks and held by various market participants. As a result, they are also liquid with an active secondary market. CLOs have proven to be resilient investment vehicles through multiple cycles delivering attractive risk adjusted returns to note holders.

€1.6bn In AUM¹ across
CLO Strategy

€407m Indigo IV Closed in
October 2025

¹As of October 2025. Assets under management are defined as committed capital since inception. Excludes warehoused exposure associated with future CLO issuance.

Pemberton’s CLO investment philosophy is predicated on the construction of highly diversified credit portfolios utilising a 3D approach focusing on fundamental analysis techniques and adopting a relative value approach for portfolio optimisation purposes.

Pemberton closed its first CLO (Indigo Credit Management I DAC) in November 2023 and second CLO (Indigo Credit Management II DAC) in December 2024. CLOs complement Pemberton’s Direct Lending and Working Capital Solutions strategies, offering investors access to a further credit product to suit their investment and allocation needs.

Consistent with Pemberton’s ethical principles, Pemberton’s CLOs incorporate the latest thinking in sustainable investment policies and are built into investment decision making.

Asset-Based Finance

Pemberton’s CLO strategy invests in publicly rated, broadly syndicated leveraged loans, which are typically used to fund sponsor driven or corporate M&A activity.

Find Out More

Collateralised Loan Obligations

CLOs for All Seasons

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.

Collateralised Loan Obligations

The Standard of Care in a CLO

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 […]

News

Pemberton Announces the Successful Pricing of Fourth CLO, Indigo IV

Pemberton Asset Management (“Pemberton”), one of the leading European private credit managers, announces the successful pricing of Indigo Credit Management IV DAC (“Indigo IV”), a €407.0m European collateralised loan obligation (“CLO”) transaction. Building on the strong foundation of its established CLO strategy, this transaction underscores Pemberton’s continued growth and commitment to expanding the CLO platform […]

Collateralised Loan Obligations

Understanding Par Value in CLOs

Par value is the cornerstone of CLO structures, shaping investor protections and serving as a key measure of a manager’s skill. The first edition of our CLO Insights Series explores the central role of par value with a focus on: For institutional investors, understanding par value dynamics is essential for CLO evaluation and manager selection. […]