Pemberton expands German presence with Munich office and senior hire
Overview
The opening of Pemberton’s new Munich office marks its twelfth office overall.
Pemberton, a leading alternative credit specialist, today announced the opening of its second office in Germany. The new Munich office opening reflects Pemberton’s success in Germany and its ambitions for future growth in the DACH region. Pemberton also announced the appointment of Adrian Grammerstorf who joined Pemberton from Allianz Global Investors to lead its Munich office.
The office opening comes at a time of increased investment opportunities in the German private debt market, with direct lending having increased substantially in Germany in recent years1. In the last five years, Pemberton has completed 34 deals in Germany, totalling c. €2.1 billion, cementing the company as one of the leading alternative lenders in the country.
Adrian brings over 18 years of experience in European private credit, leveraged finance and transaction services. Prior to joining Pemberton, he spent more than three years as Director in Allianz Global Investors, where he was responsible for deal origination and structuring of credit financing for private equity-driven acquisitions in Germany and across Europe. Prior to this, Adrian was at UniCredit (HypoVereinsbank) for more than 11 years, holding various roles within the bank’s Leveraged Finance team, working closely with private equity firms and management teams. He started his career at Deloitte & Touche’s M&A Transaction Services team.
Nils Weber – who has been central in building the company’s DACH business since 2015 – and Adrian will team up to lead sponsor coverage and deal origination in the DACH region as well as supporting Pemberton’s growing business in the Nordics.
The opening sees Pemberton continue with its targeted expansion and follows the recent launches of its NAV Financing, Risk Sharing and CLO strategies2, building on the company’s long history of credit investing. Pemberton now offers investors access to seven innovative alternative credit strategies, all developed to meet the needs of Pemberton’s partners and investors.
1Deloitte Alternative Lender Deal Tracker Spring 2022 https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/financial-advisory/deloitte-uk-aldt-spring-2022.pdf
2Please note that the Collateralized Loan Obligations (CLO) strategy is subject to FCA UK regulatory approval for investment management activity.
Pemberton opened its first continental European office in Frankfurt in early 2015 led by our strong belief in the importance of being local on a pan-European basis. The new Munich office opening highlights our commitment to Germany and recognises the importance of Munich, which is not only key to the German economy, but also the German city with the largest number of local private equity offices. Adrian is the perfect candidate to help build on our momentum and lead the German business together with Nils. The appointment marks an important step in the development of our origination strategy in Germany and we look forward to welcoming him to Pemberton.
– Juergen Breuer, Head of DACH and Nordics at Pemberton
We already have a lot of important partners in Munich so after many years on the road to visit them, it is great to be able to take another step with a local office. Adrian comes with a wealth of expertise and relevant relationships that nicely complement what we already have in place in Germany – we now look forward to together continuing to expand our local presence and offering, ensuring we are the best investment partners that we can be.
– Nils Weber, Managing Director, Origination, Germany, Austria & Switzerland at Pemberton
It’s an exciting time to be joining the Pemberton team in Germany and to help shape the direction of the business. Pemberton has one of the largest direct lending platforms in Europe and has an impressive track record in supporting the growth of Germany’s Mittelstand, the country’s economic engine. I look forward to working closely with Nils and the team on the ground, and helping Pemberton deepen and evolve its offer for the benefit of investors and borrowers.
– Adrian Grammerstorf , Executive Director, Origination, DACH at Pemberton
About the author
Jürgen Breuer
Partner, Head of DACH & Nordics
Nils Weber
Managing Director, Origination, Germany, Austria & Switzerland
