Dealmaking in a Pandemic
By Julie Segal – Institutional Investor
PennantPark Founder and Managing Partner Art Penn recently discussed the impact of the coronavirus on deal activity with Julie Segal of Institutional Investor. Art emphasized the importance of patience and focusing on its existing portfolio companies, given that overall activity has slowed. “It’s hard to price risk right now, whether you’re a lender, in private equity, or a shareholder,” he said. “People are pivoting to trying to understand what is going on in their own portfolios. We, like our peers, are playing defense, not offense.”