Pan-European credit investor Pemberton has launched a wealth and asset management solutions initiative to help broaden access to private debt opportunities in Europe.
The attempt to reach out to wealth and asset managers and their clients will be led by Michele Baldessarini, a senior member of Pemberton’s business development team.
Pemberton said that in a low-yield environment private debt has become increasingly sought after in the asset and wealth management sector due to its consistent returns and diversification. However, for many asset managers it is too costly and challenging to build an in-house private debt offering, which is why Pemberton is seeking to partner with them to enable them to offer all of its private debt strategies to clients.
“With this new initiative, we are looking to build long-term partnerships with top-tier global wealth and asset managers to provide their institutional and professional clients access to private debt,” said Baldessarini.
Pemberton managing partner, Symon Drake-Brockman, added: “Over the past year, it has become clear that our approach fits well with the current needs of wealth and asset managers, all of whom are looking for stable investments which preserve and aim to increase the value of their portfolios over the long term.”
Pemberton told Private Debt Investor it has already been in discussions with a number of asset and wealth managers during the development of its solution.