Pemberton appoints Phil Ashdown as a Senior Portfolio Manager

26 January 2024 - Pemberton, the diversified asset manager backed by one of Europe’s largest insurers, Legal & General Group PLC, announces the expansion of its senior management team with the appointment of Phil Ashdown as a Partner.

Phil joins Pemberton to develop investment strategies across trade receivables and supply chain finance for institutional investors, with overall responsibility for origination and portfolio management.

Phil brings over 30 years’ experience in commercial banking, portfolio management, leveraged finance and M&A advisory.

Prior to joining Pemberton, he was a founding investor and Executive Board Director of Tungsten Corporation, a leading global supply chain enabler. He was integral to the firm’s successful IPO in 2013, and its acquisition and integration of OB10, a global e-invoicing platform. Phil previously also served as Portfolio Manager at Altima Partners, and Head of Leveraged Finance and Private Equity Coverage at ING Bank in London.

Symon Drake-Brockman, Managing Partner of Pemberton, said: “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. Bringing Phil into Pemberton, with his extensive knowledge of payments and receivables financing, will enable us to do so.”

Phil Ashdown added: “As global trade continues to expand, the demand for non-bank funding becomes ever greater. Pemberton has a proven track record of connecting capital from institutional investors to companies seeking stable, long-term financing. The prospect of building a platform to provide supply chain finance at a company of Pemberton’s calibre was deeply appealing.”

About Pemberton

Pemberton is a diversified asset manager, backed by one of Europe’s largest insurers, Legal & General Group PLC.

Pemberton is focused on delivering attractive risk-adjusted returns for global investors and long-term capital for European borrowers, which provides growth capital for the wider European economy.

Built upon a strong combination of banking and asset management expertise, Pemberton’s skill lies in its ability to originate, select and manage diverse credit exposures through its pan-European platform. With an approach focused on risk transparency, Pemberton aims to bring clarity to complex credit markets for investors, borrowers and banks.