NAV financing

NAV Financing Core Fund I is Pemberton Asset Management’s inaugural NAV financing vehicle, designed to deliver senior‑secured loans based on the underlying value of private equity fund portfolios. Marketed primarily across Europe, the fund addresses a rapidly growing demand for flexible, non‑dilutive liquidity solutions from GPs, LPs, and buyout sponsors. With its first close in mid‑2024 surpassing $1 billion in investable capital and anchored by ADIA alongside Legal & General, the fund demonstrates strong institutional confidence in its strategy. The offering provides General Partners with the flexibility to increase commitments, pursue bolt‑on acquisitions, and accelerate distributions through dividend recapitalizations. Strategically rooted in Pemberton’s robust credit platform—boasting deep sector expertise, no competing equity interests, and a proprietary origination network spanning nearly 180 sponsors—the fund is positioned to unlock value across the life cycle of investments. Its structure provides liquidity, supports growth, and helps optimize portfolio capital structures when traditional bank financing may be unavailable or cost‑inefficient. As the NAV financing market expands—expected to reach hundreds of billions by 2030—this core fund establishes Pemberton as a first mover in the European NAV lending space. The fund’s Article 8 alignment underscores its commitment to ESG considerations, while its flexible applications—from acquisition financing to continuation fund support—position it as a versatile solution in private capital markets.