Capital solutions
built on trusted

Our firm was established to provide investors with access to middle market credit. By design—and to set ourselves apart— we are an independent manager. From early in this endeavor, we enjoyed a distinct advantage in that our senior professionals brought tremendous depth of experience in middle market credit. Prior to PennantPark, our senior team members worked alongside one another within various predecessor firms dating back to the mid-1990s. Now, over 12 years since PennantPark’s founding, we have the same senior leadership team intact and continue to benefit from their extensive record of experience and teamwork.

Fast Facts

We focus on companies that are owned by established middle market private equity sponsors with a track record of supporting their portfolio companies. This practice is designed to enhance alignment of interests between lenders and equity investors.

Founded in 2007, PennantPark is headquartered in New York with offices in Chicago, Houston, and Los Angeles.

Our core focus is lending to middle market private equity sponsor-backed companies with $10 – $50 million of EBITDA.

Since inception, PennantPark has invested over $10 billion.

Our Firm - PennantPark

Senior investment professionals have an average of 28 years of experience.

Our Standard - PennantPark

PennantPark is fortunate to have a highly diversified investor base.

Our History

Now, 12 years into executing its core strategy, PennantPark continues to enjoy a reputation for excellence in middle market lending.


September 1

PennantPark launches issued inaugural CLO

In September 2019, PennantPark issued its inaugural CLO, PennantPark CLO I. The $301.4 million vehicle is backed by a diversified portfolio of middle market loans, and has a four-year re-investment period.

April 1

PennantPark launches PennantPark Senior Credit Funds (PSCF & PSCF-Lev)

The new PennantPark Senior Credit Funds (levered and unlevered) are our third and fourth vehicles following our Senior Debt strategy. The funds focus principally on directly originated, sponsor-backed, senior secured loans at the top of the capital structure.

January 2

PennantPark closes a Separately Managed Account (SMA) in the Opportunistic Credit strategy

This is our fifth vehicle in the Opportunistic Credit Strategy, launched on behalf of a top-10 global alternative asset manager with $190 million of investable capital.

October 1

PennantPark launches PennantPark Credit Opportunities Fund III (PCOF III)

PCOF III is our fourth vehicle in the Opportunistic Credit strategy, designed for private and institutional investors seeking to leverage our unique expertise, tested leadership, and proven track record in middle market credit.

April 1

PennantPark further expands its senior debt capabilities

PFLT and Kemper doubled the size of their joint venture, PSSL, bringing the vehicle’s total buying power to $630mm.

April 1

PennantPark expands its senior debt capabilities

April 1

PennantPark opens three new offices in the United States to bolster origination capabilities

Our team grew to 37 employees as our offices expanded from NYC to include Chicago, Houston, and Los Angeles.

October 2

In cooperation with existing investors, PCOF is restructured into PCOF II

We converted PCOF from a short-term hedge fund structure to a long-term drawdown structure.

April 1

PennantPark achieves landmark growth

By Q2 of 2013, PennantPark had deployed $2.5bn of capital to 270 companies. Our ranks grew to 26 staff members.

July 1

PennantPark launches its first private investment vehicle, the PennantPark Credit Opportunities Fund (PCOF)

In 2012, we established the PennantPark Credit Opportunities Fund, a vehicle designed for private and institutional investors seeking to leverage our unique expertise, tested leadership, and proven track record in middle market direct lending.

April 1

PennantPark’s second investment vehicle, PennantPark Floating Rate Ltd (PFLT) completes its IPO

We launched PFLT to provide investors with expanded access to first lien debt.

October 1

PennantPark doubles AUM in the aftermath of the financial crisis

In the months leading up to the global financial crisis, we remained true to our rigorous underwriting strategy, with emphasis on strong financial covenants and low leverage. This cautious approach culminated in a self-imposed hold on new investments from September ’08 through March ’09. We succeeded in limiting losses by excellent underwriting prior to September ’08. After September ’08, we spent six months paying careful attention to the effects of the recession on our portfolio companies. By March of ’09, we were confident in our assessment of the recession’s effects, and we resumed investing, doubling our AUM by Q4 of ’09.

April 1

PennantPark Investment Corporation (PNNT) raises $294mm in its IPO

PNNT was our first investment vehicle.

January 1

PennantPark opens for business proclaiming a fresh and focused approach to middle market direct lending

PennantPark was founded in 2007 by Art Penn and a close-knit team of middle market direct lending experts. Our vision for founding PennantPark was to create an independent credit provider, free of conflicts and affiliations, which could become a trusted partner for middle market private equity sponsors and companies.