The European banks remain constrained as they recapitalise – many reverting to their ‘core’ markets. LGC supports the development of Alternative Finance markets, with an investment focus on:
Noteworthy examples of our sme finance activities to date include:
- In July 2015, LGC announced the successful €447m first close of Pemberton Asset Management’s inaugural European Mid-Market Debt Fund, the Pemberton European Mid-Market Debt Fund I, which brings together investors from large blue-chip financial services and insurance companies across Europe. This follows the completion of three lending deals for L&G’s €100m segregated mandate, and has been set up to provide much-needed finance to established mid-market European companies, in return offering L&G shareholders and other investors with a strong stream of quarterly income and attractive total returns.
- In July 2014, LGC purchased a 40% stake in Pemberton Asset Management in. With an initial commitment to invest €250m into mid-market loans in order to develop a European lending capability, through this investment LGC is accelerating its participation in the direct lending market and providing a new source of institutional funding to corporates over the long term.