Private Lender Pemberton Takes Over UK Auction House Bonhams

British auction house Bonhams has been taken over by private credit lender Pemberton Asset Management, according to corporate filings.

The deal happened earlier this month, with Pemberton appointing new executives to the board after swapping its debt for shares in the company, the filings show.

Spokespeople for Pemberton and Bonhams declined to comment.

Bonhams, which was founded in 1793 in London, was purchased by private equity firm Epiris in 2018 with a loan provided by Pemberton, the filings show. The debt, around £170 million ($226 million) as of the end of 2023, paid an interest equivalent to the SONIA ...