Pemberton, an alternative credit specialist, announced the appointment of Thomas Doyle to lead a new NAV (Net Asset Value) financing strategy.
Thomas brings over 25 years of experience in the banking and private debt sectors, where he has been a pioneer of NAV-based financing as an asset class. Thomas will make use of Pemberton’s international scale, sourcing channels and deep credit underwriting expertise to develop an innovative and market-leading offer for borrowers and investors alike.
The strategy will see Pemberton continue its partnership with leading private equity houses to provide flexible capital solutions for their management companies, fund vehicles and limited partners (LPs). The strategy is a natural continuation of Pemberton’s direct lending products and credit expertise, targeting a portfolio of the same underlying companies but at a later stage in the private equity cycle. Always secured against a portfolio of assets, the strategy will offer investors exposure to a new, growing area of the market, benefiting from strong structural alignment with some of the leading global private equity investors.
Prior to joining Pemberton, Thomas held various senior positions in the industry, including Partner at 17Capital, Head of Fund Linked financing for the EMEA region at J.P. Morgan, and Global Head of Fund Derivatives at KBC Financial Products. He holds a degree in Commerce from University College, Dublin and is a CFA Charterholder from the CFA Institute.
Symon Drake-Brockman, Managing Partner at Pemberton said: “The launch of this strategy allows us to expand our offer for our private equity partners to a later point in their cycle, making use of our deep credit expertise. We have followed the market for several years and we believe now is the time to enter as the opportunities have the potential to offer attractive returns for LPs and genuine benefits for private equity houses. Thomas is a veteran of the market and has a strong track record in identifying and delivering innovative investment opportunities, and will be making use of all of Pemberton’s resources to build a first class platform.”
Thomas Doyle, Head of the NAV financing business at Pemberton added: “I have known Symon and many of the senior team for years and have been impressed with the development of the firm. The NAV financing strategy allows private equity investors, such as funds and management companies, to unlock value creation through innovative financing structures and is an area poised for significant growth in the years to come. Pemberton’s origination capabilities are second to none which, combined with its deep experience in credit and risk monitoring, makes our new NAV financing strategy an ideal and arguably unique offering in the market.”
This new strategy follows the launch of Pemberton’s Risk Sharing and CLO strategies, building on Pemberton’s long history of credit investing. Pemberton now offers investors access to seven different alternative credit strategies1, all developed to meet the needs of Pemberton’s partners and investors.