Art Penn Quoted in Pensions & Investments Article

Institutions Seeing More Private Credit Risks

By Arleen Jacobius – Pensions & Investments

Arleen Jacobius of Pensions & Investments talked to PennantPark Founder and Managing Partner Art Penn for an article that addressed and evaluated the perception that risks are increasing in the private credit. Art discussed aspects of PennantPark’s approach that account for risk and provided insight on how the later-stage credit cycle is impacting EBITDA adjustments. “People say it’s a riskier environment and, in general, we agree with that,” he said. “We’ve been saying for five years that you have to be careful and cautious. There’s a lot of capital that has been raised resulting in competition.”