The Strategic Credit strategy is our innovative and solutions-based offering

Ben Gulliver

Partner

Robin Challis

Partner

2.26bn

Cumulative capital raised1

2.08bn

Cumulative capital deployed1, 2

1Source: Pemberton Capital Advisors LLP, June 2021. 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

June 2021

A portfolio company of


Term Loan & Minority Equity

Union Jack

February 2021

A portfolio company of


2nd Lien PIK

March 2020

A portfolio company of


Term Loan

September 2019

Our other clearly defined risk-reward strategies

Senior Loan

The strategy targets first lien investments in larger companies, with lower leverage and larger equity cushions than our Mid-Market Debt strategy…

Mid-Market Debt

The strategy primarily focuses on investments in performing companies in defensive industries with characteristics including market-leading positions…

Working Capital Finance

The strategy provides institutional investors with potential attractive risk-adjusted returns from a diversified, stable and low-duration portfolio….