• Funds

Pemberton raises €1bn for European credit fund

Pemberton said it has already committed 50% of the fund’s capital to companies across Europe

Pemberton, a fund manager backed by Legal & General, has raised €1bn for a new fund lending money to mid-market European companies — defying concerns over an economic slowdown in the region.

The fund received backing from over 30 investors from North America, Europe, Australia and the Middle East, comprising major pension funds, insurance companies, foundations and high net worth individuals. It is understood that nearly half of the investor base for the fund is from the US.