European private credit manager Pemberton Asset Management has reached its target final close of $1.7bn for its first-time NAV Financing Core Fund I, marking a strong debut for the firm’s new private credit strategy.
Combined with capital raised across its NAV Financing and GP Solutions strategies, Pemberton has now secured $2.7bn in total assets under management.
The NAV Financing strategy provides loans to private equity sponsors, secured against a cross-collateralised pool of portfolio companies, typically to fund bolt-on acquisitions or additional platform investments. Its GP Solutions strategy, anchored by ADIA in 2024, offers non-dilutive capital solutions to private equity GPs for initiatives such as stake buybacks, succession planning, and GP commitments.
The fundraise comes amid heightened demand for financing solutions tied to net asset values of mature funds, as private equity managers navigate extended hold periods, higher interest rates, and a focus on optimising returns. Pemberton has recently expanded its presence in the US with a new New York office and senior hires from Houlihan Lokey and Jefferies, complementing its established European platform.
Ina press statement, Thomas Doyle, Partner and Head of NAV Financing & GP Solutions, said the fundraise “reflects the growing global interest and adoption of these strategies,” while Managing Partner Symon Drake-Brockman highlighted Pemberton’s ability to provide flexible, multi-level capital solutions across portfolio company, fund, and GP levels.
