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How Private Credit Survived Its First Test Julie Segal – Institutional Investor PennantPark Founder and Managing Partner Art Penn spoke with Julie Segal of Institutional Investor for her piece on how direct lenders defied gloomy forecasts for the asset class throughout the pandemic. Art noted highlighted the importance of substantial equity cushion and strong covenants throughout the downturn and offered his insight into why private credit avoided the major obstacles that many predicted. “There’s a...
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Direct lending weathers Covid storm, inspiring new fundraising push  Silas Brown – GlobalCapital PennantPark Founder and Managing Partner Art Penn spoke with Silas Brown of GlobalCapital for his piece on the resiliency of direct lending throughout the pandemic and the growth of private credit fundraising across Europe. Art noted that the asset class’ performance was primarily a reflection of managers’ tendency to avoid cyclical industries. “Covid was different because specific sectors of the economy were...
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“I think this COVID time period really has been extra validation for the space, and the learnings that we’ve all seen from COVID and the learnings that Asian investors have seen can now be put into place.” PennantPark Founder and Managing Partner Art Penn briefly discussed the key takeaways for APAC investors interested in allocating to private credit strategies on the Private Debt After the Pandemic Webinar. Art highlighted the resilience and returns of PennantPark’s...
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Private Credit Lets Pet Sector Out of Doghouse During Pandemic  Sasha Padbidri – Refinitv PennantPark Founder and Managing Partner Art Penn spoke with Sasha Padbidri of Refintiv for her article on the growth of direct lending to pet-focused companies throughout the pandemic.  The industry benefited throughout Covid-19, but Art highlighted that it’s important to consider how the sector will be impacted as we return to normal circumstances. “We still don’t know how the sector will...
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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...
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“We, as an industry, we’re able to come to the table quickly to really help solve the problem and also protect the interest of our investors.” PennantPark Founder and Managing Partner Art Penn recently discussed how middle market credit weathered the Covid-19 downturn on the Private Debt After the Pandemic Webinar. Art highlighted the similarities and differences managing through Covid-19 and the Global Financial Crisis, focusing specifically on the crucial role that equity support played...
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PennantPark Founder and Managing Partner Art Penn discuss the historical leverage levels and vintages following the Global Financial Crisis through the Covid-19 disruption, highlighting how capital preservation protected PennantPark leading up to the 2020 market downturn.   Watch the full webinar here
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American Airlines Joins Debt-Market Behemoths By Matt Wirz – The Wall Street Journal PennantPark Founder and Managing Partner Art Penn spoke with Matt Wirz of The Wall Street Journal for his article on American Airlines’ activity in the debt markets since the onset of the pandemic. American Airlines serves as an example of how private lenders can provide capital solutions to companies that were heavily impacted by last year’s shutdown, but Art noted that it’s...
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