In The News

In Episode 3 of our 8-part video series on private credit investing with Trinity Chavez of NYSE’s Taking Stock, Senior Partner José Briones speaks about our investment philosophy, industries of expertise, and target borrower profiles. He also describes the quantitative metrics that PennantPark considers when making new investments.Continue Reading

Ryan Raskopf, Partner, PennantPark speaks with NYSE’s Trinity Chavez about why floating rate loans can be a great strategy for investors. Ryan notes floating rate loans can be especially helpful in combatting against rising interest rates – as they offer investors higher yield and price stability.Continue Reading

PennantPark’s Founder and Managing Partner, Art Penn, spoke with Trinity Chavez of NYSE about the private credit industry and the market dynamics that are driving more investors than ever before to middle market direct lending. Check out the video below and stay tuned for more episodes to come in our video series on private credit investing.Continue Reading

Private credit CLOs could soon get squeezed Tom Lemmon – GlobalCapital “About 15 companies across our portfolio needed liquidity,” he said, suggesting that the real question is how would this be solved — should the equity or the lenders pay up? “I give credit to our monthly financial statements and our tight quarterly covenants so that in all 15 of art those cases, the private equity sponsors offered to put in the liquidity,” he added....Continue Reading

PennantPark Investment Corporation’s Unconsolidated Joint Venture, PennantPark Senior Loan Fund, LLC Completes $300 Million CLO, Marking Continued Growth in PennantPark’s Middle Market CLO Platform with Seven CLOs Under Management. PennantPark Investment Corporation (the “Company”) (NYSE: PNNT) today announced that PennantPark Senior Loan Fund, LLC (“PSLF”) through its wholly-owned and consolidated subsidiary, PennantPark CLO VII, LLC (“CLO VII”), has closed a $300 million debt securitization in the form of a collateralized loan obligation (“CLO”) with a...Continue Reading

PennantPark offers financing to PE-backed companies in changing market Ann C. Logue – Alternatives Watch PennantPark’s Founder and Managing Partner, Art Penn, recently spoke with Ann Logue of Alternatives Watch to discuss his outlook on private credit. Art emphasized the importance of “vintages” and how today’s economy is more of a mixed bag than it was coming out of COVID.   Read the Full ArticleContinue Reading

PennantPark Floating Rate Capital Ltd.’s Unconsolidated Joint Venture, PennantPark Senior Secured Loan Fund I, LLC Completes $297.8 Million CLO, Marking Continued Growth in PennantPark’s Middle Market CLO Platform with Six CLOs Under Management PennantPark Floating Rate Capital Ltd. (the “Company”) (NYSE: PFLT) (TASE: PFLT) today announced that PennantPark Senior Secured Loan Fund I, LLC (“PSSL”) through PSSL’s wholly-owned and consolidated subsidiary, PennantPark CLO VI, LLC (“CLO VI”) has closed a four-year reinvestment period, twelve-year final...Continue Reading

Art Penn talks about middle market credit Judy Khan Shaw – MiNYSE Floor Talk “We think 2023 is going to be a great vintage for middle market private credit because risk is lower, debt relative to cash flow is lower, tighter covenants and more time to do proper due diligence, and the yields and spreads are higher.” PennantPark’s Founder and Managing Partner, Art Penn, recently appeared on NYSE Floor Talk to discuss some of the...Continue Reading

Dealmaking in the Year Ahead Anastasia Donde – Middle Market Growth “We were funding a few deals at year-end, but it’s less than we thought we would, as a slowing economy and higher financing costs took hold,” says Art Penn, founder at private credit firm PennantPark. “We’re in the careful and cautious camp—not putting it all into the market right now. This environment is going to last a while, so it necessitates careful deployment.” PennantPark’s...Continue Reading

Credit Rendezvous: Make yourself comfortable, there’s a storm coming Hugh Minch – Creditflux “Even in the face of an expected US recession in 2023, Penn says that the low risk levels of the 2023 vintage of direct lending funds could see them become one of the best performing cohorts this year, echoing the performance of the 2009-vintage market following the global financial crisis.” PennantPark’s Founder and Managing Partner, Art Penn, was recently featured in Hugh...Continue Reading