The Strategic Credit strategy is our innovative and solutions-based offering
€4.9bn
Cumulative capital raised1
€6.0bn
Cumulative capital deployed1, 2
1Source: Pemberton Capital Advisors LLP, March 2024. AUM defined as committed capital since inception.
2Includes recycled capital during the investment period.
Bespoke financing
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. 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.
Pemberton provided us with a timely and certain solution that enabled us to execute our buy-and-build strategy on Corona. The bespoke debt that they provided was tailored to our needs, adapting to the company’s growth, which started as a primary buy-out working closely with the founder and has now doubled in size
Johannes Huttunen
Principal, H.I.G. European Capital Partners LLP - 2020
Selected recent investments
A portfolio company of
Term Loan & Acquisition Facilities
July 2024
A portfolio company of
Term Loan & Acquisition Facilities
May 2024
A portfolio company of
Term Loan & Acquisition Facilities
May 2024
A portfolio company of
Term Loan Facilities
April 2024
A portfolio company of
Term Loan & Acquisition Facilities
September 2023
A portfolio company of
Term Loan & Acquisition Facilities
August 2023
An add-on acquisition of
Term Loan
April 2023
A portfolio company of
Term Loan
March 2023
