Pemberton Capital Advisers closed its European midmarket strategy at €3.2 billion ($3.5 billion), which includes European Mid-Market Debt Fund II and U.K. Mid-Market Debt Fund, and also closed its Strategic Credit Opportunities Fund at €1 billion, a spokeswoman said.
The European midmarket strategy, which provides senior loans for acquisition and growth capital, exceed its fundraising target of €2.5 billion to €3 billion. The fund supported U.K. manufacturer of environmentally sealed high-performance engineered solutions, and a clinical and genetic laboratory business in Spain.
The £8.7 billion ($10 billion) Tyne & Wear Pension Fund, Sunderland, England; and the $51.1 billion Illinois Teachers' Retirement System committed investments to the fund, the spokeswoman said. The £20.8 billion Strathclyde Pension Fund, Glasgow, Scotland, invested in the U.K. sleeve of the fund, she noted.
Pemberton's Strategic Credit Opportunities Fund closed in line with its target at €1 billion. The $24 billion San Francisco City & County Employees Retirement System invested in the fund, the spokeswoman said.