Strategic Capital

€5.8bn Cumulative Capital Raised¹

€6.8bn Cumulative Capital Deployed²

38 Companies Invested³

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.

Bespoke Financing

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.

¹Source: Pemberton Capital Advisors LLP, December 2024. AUM defined as committed capital since inception.
²Includes recycled capital during the investment period.
³As at December 2024.

Ben Gulliver

Partner, Head of Portfolio Management & Co-Head of Direct Lending
Robin Challis

Partner, Deputy Head of Portfolio Management

View Our Team

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