Pemberton Asset Management Raises €2.3bn for Third Direct Lending Fund

Pemberton Asset Management has successfully closed its third direct lending fund, the Strategic Credit Fund III, securing €2.3bn in commitments. This achievement boosts the firm's total Assets Under Management (AUM) for its direct lending strategy to €4.9bn across three vintages, solidifying its position as one of Europe’s leading opportunistic direct lending funds, as noted by Preqin.

Launched in 2017, Pemberton’s strategic credit strategy focuses on generating alpha through first lien-focused capital solutions, particularly in sponsor-led transactions across non-cyclical businesses. In 2023 alone, the strategy deployed over €1bn, showcasing its robust investment approach and appetite for growth.

The fund's success in garnering commitments underscores investor confidence, with both new and existing Limited Partners (LPs) participating, including prominent public and private pension funds, as well as insurance providers across Europe, North America, Asia, and the Middle East. This substantial capital raise marks another milestone for Pemberton, further cementing its reputation as a premier player in the private equity landscape.