Art Penn Quoted in FundFire Article

Direct Lending Booms in Europe with Big Funds, Growth Outlook

By Tom Stabile – FundFire

PennantPark Founder and Managing Partner Art Penn spoke with Tom Stabile of FundFire for his piece on the growth of direct lending in Europe. Art noted that, while opportunities exist, the longstanding relationships between European banks and middle market companies has resulted in stronger competition and a slower adoption of direct lending allocations. “From the investor standpoint, it’s earlier days there,” he said. “You still have German banks that lend primarily to German middle market companies, and the same in Switzerland, in Italy, and other markets.”