ADIA anchors Pemberton’s new NAV Financing Strategy

LONDON, June 3, 2024 /PRNewswire/ — Pemberton Asset Management (“Pemberton”), a leading European private credit manager, today announces that a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) has agreed to anchor Pemberton’s new NAV Strategic Financing strategy.

Together with commitments from other investors, ADIA’s investment is expected to result in a first close for the NAV Strategic Financing Strategy in excess of U$1bn in the coming weeks.

NAV Strategic Financing capitalises on the growth of the private equity fund finance market to provide non-dilutive strategic capital solutions to private equity GPs and funds. Pemberton anticipates the strategy will provide GPs with growth capital to support increased fund commitments, succession planning and strategic initiatives, whilst also providing capital for accretive portfolio company investments such as bolt-on acquisitions.

The NAV Strategic Financing Strategy is a natural extension of Pemberton’s market-leading direct lending platform, which currently offers lending solutions for individual assets, and enables Pemberton to offer a broader range of products to its private equity buyout community.

“ADIA’s anchor commitment reflects the growing interest in the NAV asset class, the strength of Pemberton’s private credit platform and our ability to deliver a broad range of financing solutions to private equity managers. We believe that NAV financing will become a core fund financing tool and, with ADIA’s support, we look forward to offering this innovative solution to our clients,” said Symon Drake-Brockman, Managing Partner of Pemberton.

Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA, commented, “Pemberton is one of the leading private credit managers in Europe with a highly experienced team and a deep network across the GP community. NAV Financing is one of the fastest growing asset classes in private credit and we are confident Pemberton’s new strategy will prove attractive to a broad range of GPs.”

Anis Ghamgui, Head of Middle East and Africa, added: “Investors from the Middle East Region have been at the forefront of building strategic partnerships with pre-eminent managers and together are jointly shaping the trends in the investment industry. They play an important role in the evolution of private credit with the objective to create long-term value in support of economic growth worldwide. We are proud to partner with ADIA in this process.”

Notes to Editors:

All information is correct as of 3rd June 2024 unless otherwise noted.

About Pemberton Asset Management

Pemberton Asset Management (‘Pemberton’) is a leading European private credit manager. We offer an innovative, highly diversified range of credit strategies for investors and borrowers. Built on more than a decade of experience developing market shaping solutions, we provide market leading credit analysis through a substantial and independent credit function and local market expertise through our 10 European office network. All investments are conducted with a clear focus on sustainability by embedding ESG criteria into our investment processes and monitoring the ESG credentials of our borrowers. We are relentless in creating new opportunities and building open and transparent relationships, bringing clarity to complex credit markets for our clients.

About Abu Dhabi Investment Authority

Established in 1976, ADIA is a globally diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on longterm value creation.

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The above press release is for information purposes only and it should not be regarded as an offer or solicitation of an offer. We do not represent that this information, including any third-party information, is accurate or complete and it should not be relied upon as such. Investing entails risks, including possible loss of principal. Past performance is not indicative of future results. No representation is made, assurance given, or implication created that such statements, views, projections, or forecasts are correct after such date, or that the objectives of funds will be achieved or that investors in such funds will receive a return on their investment in such funds. The information contained in this press release is given at the date of this publication (unless otherwise marked) and is subject to updating, revision and amendment. The opinions expressed reflect the opinion of the named individual and are subject to change without notice.

This document has been prepared and issued for use in the UK and all countries outside of the European Union and Middle East by Pemberton Capital Advisors LLP. Pemberton Capital Advisors LLP is authorised and regulated by the Financial Conduct Authority (“FCA”) and entered on the FCA Register with the firm reference number 561640 and is registered in England and Wales at 5 Howick Place, London SW1P 1WG, United Kingdom. Registered with the US. Securities and Exchange Commission as an investment adviser under the U.S. Investment Advisers Act of 1940 with CRD No. 282621 and SEC File No. 801-107757. Tel: +44(0) 207 993 9300.

This document has been prepared and issued for use in the European Union by Pemberton Asset Management S.A.. Pemberton Asset Management S.A. is authorised and regulated by the Commission de Surveillance du Secteur Financier (“CSSF”) and entered on the CSSF Register with the firm reference numbers A1013 & A1342 and is registered in Grand Duchy of Luxembourg at 70 route d’Esch, L 1470. Pemberton reports to the US. Securities and Exchange Commission as a reporting exempt investment adviser under the U.S. Investment Advisers Act of 1940 with CRD 282865 and SEC File No. 802-107832. Tel: +352 26468360.

This document is being distributed in the Middle East by Pemberton Capital Advisors LLP (DIFC Branch) (“PCA DIFC”). PCA DIFC is regulated by the Dubai Financial Services Authority (“DFSA”).

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