Pemberton confirms €1.5 billion record level of deals in France in the last 12 months
Overview
Pemberton, a leading alternative credit specialist, has completed and committed a total amount of investments of €1.5 billion in France over the last twelve months1. This marked another record period for Pemberton of supporting French companies in a variety of sectors and situations.
The spectrum of transactions highlights the strength, diversity and relevance of Pemberton’s alternative credit platform and position in the French market, with a total of twelve deals completed or engaged with eleven different sponsors.
Thanks to the breadth of its investment platform and wide product offering, Pemberton was able to support its clients in each segment of the private debt market, including unitranche-type deals, senior loans and subordinated financings. In more than 50% of these deals, Pemberton has worked closely with local banks to optimise the financing structure.
In each transaction Pemberton acted as the lead arranger, focusing on resilient sectors, such as business services, financial services and healthcare, supporting borrowers with strong business models across market cycles.
Direct lending to performing mid-market companies in France has substantially increased in recent years, according to the latest Deloitte Alternative Lender Deal Tracker2. France Invest recently reported that last year investments by private debt funds in the country have almost doubled compared to 2020 (+90%)3.
The news follows a period of sustained growth and expansion for Pemberton, with the recent launches of its NAV Financing, Risk Sharing and CLO strategies4 , and its Munich office opening, its twelfth location overall.
1Last twelve months (LTM) to March 2022
2Deloitte Alternative Lender Deal Tracker Spring 2022
3France Invest / Deloitte Report, April 2022
4Subject to FCA approval
Almost seven years after setting up in Paris, France remains a key market for Pemberton as we continue our international growth. With record level of activity last year and a strong start to 2022, this significant milestone demonstrates our ability to support French privately-owned companies with innovative alternative credit solutions, and our alignment with the local sponsor and investment banking community on laying the groundwork for robust, sustainable growth. Our nimbleness and flexible approach, combined with the track record of our people on the ground and the size and scale of our platform, are all key success factors for our strong deployment.
– Geoffroi de Saint Chamas, Head of France at Pemberton
