Direct Lenders Remain Open to Fund Deals
By Anastasia Donde – Mergermarket
PennantPark Founder and Managing Partner Art Penn spoke with Anastasia Donde of @Mergermarket in April for a piece on direct lenders’ evaluation of fund deals in the current market environment. Art noted that although M&A activity is currently quiet, he anticipates more opportunity, particularly in defense and government service-related businesses going forward.
“We’ve become more interested in defense-related and government services businesses, they are seeing a lot of activity right now,” Penn said. Additionally, Art added that there other “bright spots” among grocery and food businesses, while other portfolio companies, such as Dermarite, have benefited from pivoting to providing products and services that are beneficial in this environment.
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