The Credit Edge by Bloomberg Intelligence Pemberton Builds NAV Loans, CLOs for Private Debt Edge
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Jan 23, 2025 Symon Drake-Brockman, co-founder and managing partner of Pemberton, dives into the dynamic world of European private credit. He discusses how to stay competitive with a diverse product range, including net asset value financing and CLOs. Drake-Brockman shares insights on the relative strengths of US versus European private credit markets while exploring strategic partnerships and risk management. He also reflects on the lessons learned from financial crises and the importance of innovation in today’s credit landscape.
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European Market Opportunities
- European mid-market companies are consolidating, presenting growth opportunities.
- Private equity firms are capitalizing on this trend, leading to attractive returns for investors.
Advice for New Entrants
- Niche players still have opportunities in European private credit.
- Building a large-scale platform with significant investment is crucial for success.
Portfolio Performance
- COVID, high interest rates, and other factors have tested European direct lending portfolios.
- Performance dispersion is emerging among managers, but the asset class remains robust.