Direct Lending Managers Scramble as Routine Deals Dry Up
By Tom Stabile – FundFire
PennantPark Founder and Managing Partner Art Penn was recently featured in Tom Stabile’s FundFire piece, which addressed how direct lenders are navigating the current market and which managers are best equipped to handle new deals. Art highlighted the value of exploring opportunities in the secondary market.
“The middle market is lightly syndicated,” he said. “You can buy [loans] for a significant discount, 80 or 85 cents on the dollar, often for companies you’ve lent to before or know well through a customer or supplier relationship.”