Pemberton, an independent asset management group backed by Legal & General, has launched a UK Mid-Market Direct Lending fund.
The new fund aims to raise £500m to invest in and supporting dynamic mid-sized businesses in the UK economy. Already anchored by two institutional investors, including Legal & General, the vehicle expects to hold a first close before the end of 2016.
Led by Symon Drake-Brockman, Managing Partner, and John Doyle, Head of Origination UK, Pemberton is an independent asset management group focused on private debt and direct lending to European non-investment grade mid-market companies.
The firm operates in London, Frankfurt, Paris, Milan, Amsterdam, Madrid and Luxembourg.