Pemberton appoints partner for receivables and supply chain debt

Pemberton has appointed Phil Ashdown as a partner to develop the asset manager’s trade receivables and supply chain finance business.

Ashdown joins from Tungsten Corporation, an electronic invoicing specialist, where he was a founding investor and executive board member. Before that he was a portfolio manager for Altima Partners, a special situations investment manager, and head of leveraged finance and private equity coverage at ING Bank.

He has over 30 years’ experience in commercial banking, portfolio management and leveraged finance.

Ashdown will be responsible for origination and portfolio management in addition to developing Pemberton’s trade receivables and supply chain finance for intuitional investors. Pemberton believes there is significant untapped demand among corporates for this type of financing.

“As global trade continues to expand, the demand for non-bank funding becomes ever greater,” said Ashdown.

Pemberton managing partner, Symon Drake-Brockman, added: “Supply chain finance has historically been dominated by the banking community and institutional investors have struggled to get a foothold in the largely unreachable market. We believe there is an untapped opportunity in improving investors’ access to this complex market.”