Media & Insight

Pemberton affirms growth and scale with €4.2 billion fundraise

The fundraise complements Pemberton’s deepening geographic reach and an expanded executive team, having opened two new offices and added 10 members to the team in first six months of 2019.

Pemberton, the diversified asset manager backed by one of Europe’s largest insurers, Legal & General Group PLC, has completed an exciting six months which affirms its growth and scale, holding two final closes raising €4.2 billion to invest in leading mid-market companies across Europe. The fundraises complement Pemberton’s broad geographic reach and an expanded investment team.

New funds raised
Pemberton has built on the success of its first European Mid-Market Debt Fund and raised an additional €3.2 billion for the strategy which provides senior loans for acquisition and growth capital. Looking to add further diversity to its investment platform, Pemberton also announced that its Strategic Credit Opportunities Fund, the first primary-focused credit opportunities fund in Europe, has raised €1bn. This fund provides flexible capital across the capital structure.

Pemberton has also evidenced its strong origination capabilities by finding and structuring attractive investment opportunities across Europe. Latest deals include Bulgin, a leading UK-headquartered manufacturer of environmentally sealed high-performance engineered solutions, and Laboratorios Larrasa, a leading clinical and genetic laboratory business, headquartered in La Albuera, Spain.

Network expanded, team strength deepened
Over the first six months of 2019, Pemberton opened two new offices in Amsterdam and Copenhagen, at a time of increased opportunities in both regions. As a result, Pemberton now has one of the largest pan-European networks, spanning seven locations across Europe, also including London, Frankfurt, Paris, Milan* and Luxembourg.

In the same period Pemberton has also strengthened its team with 10 new people, including the appointment of Boris Harmsen as Managing Director and Head of Benelux, Jean Tournaire as Portfolio Manager and Mark Darell-Brown as Consultant for Pemberton’s trade receivables and supply chain finance strategy, and most recently Richard Meehan as Director, Origination UK & Ireland.

Symon Drake-Brockman, Managing Partner of Pemberton, said: “This growth is testament to the confidence that investors have in Pemberton. We are established as a strong, long-term steward of their capital. And we continue to build a platform that provides innovative opportunities across the capital structure for investors and borrowers.”

“As banks continue to de-risk and de-lever, there are several trillion that will need to come off their balance sheets in the coming years. With one of the largest pan-European teams dedicated to direct lending opportunities, Pemberton is well-placed to connect capital and fill this funding demand that stems from borrowers across the region.”

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