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Art Penn Featured on Bloomberg Markets: The Close “Because we like this vintage (of loans), we are okay if this stays like this for a little while. It’s okay if we have a choppy market for the next year because we are going to be able to get better deals.” PennantPark’s Founder and Managing Partner, Art Penn, recently spoke with Bloomberg TV’s Kriti Gupta & Sonali Basak about his outlook for the credit market in...
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Private Credit Lenders Sharpen Focus On Portfolio Management; New Issuance Slows Abby Latour and Olivia Fishlow – PitchBook Data PennantPark’s Founder and Managing Partner, Art Penn, recently highlighted the importance and impact of lender protections in a portfolio of middle market loans. During his interview with Abby Latour and Olivia Fishlow of PitchBook Data, Art specifically noted how “tight monitoring processes, covenants, and equity cushions best help protect investor capital.”   Read the Full Article
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Rising Interest Rates to Test Middle Market Borrowers Madeline Shi – PitchBook Data “It’s a very interesting time for those who put on more leverage.” PennantPark’s Founder and Managing Partner, Art Penn, spoke with Madeline Shi of PitchBook Data about the current middle market landscape and how rising rates will impact private lenders.   Read the Full Article
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PennantPark Closes $300m CLO “We are particularly pleased in our ability to expand the strong capital position of our platform in order to be able to invest in today’s attractive vintage of both primary and secondary opportunities.” PennantPark’s Founder and Managing Partner, Art Penn, spoke with Robin Goldwyn Bluenthal of Private Debt Investor about the close of the firm’s fifth CLO.   Read the Full Article
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Direct Lenders Suddenly Cut Risk Even With $413 Billion Warchest David Brooke and Lisa Lee – Bloomberg Law “There’s a lot of cross-currents in direct lending. On the one hand you are protected because you are floating rate, but on the other you have to be more cautious because everyone has to contemplate a higher probability of a recession sooner.” Art Penn, Founder and Managing Partner of PennantPark, was quoted in a Bloomberg Law article...
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Is Wall Street South Here to Stay? Meghan Daniels – Middle Market Growth “We wanted to have a flexible culture but also wanted the benefits of being in the office together, while attracting excellent people.” Art Penn, Founder and Managing Partner, was quoted in Middle Market Growth, on the establishment of PennantPark’s headquarters in Miami. PennantPark currently has eight full-time employees in Miami and hopes to increase its headcount to 20 or 25 over the...
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PennantPark (PNNT) Founder On The NYSE Listing TD Ameritrade Art Penn, Founder and Managing Partner of PennantPark, spoke with Nicole Petallides of TD Ameritrade Network following the company’s listing on the New York Stock Exchange, where he discussed the on the value of lenders like PennantPark amid the current environment of rising rates, inflation and geopolitical tensions.
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At PennantPark, Art Penn says volatility turns investors’ attentions to middle-market CLOs John S. Hintze – Asset Securitization Report Middle market domestic companies, especially those owned by private-equity firms, face many of the same hurdles as their larger brethren, whether the tight labor market, supply chain snafus, inflation, interest-rate hikes, and the list goes on. However, their debt, often provided by a single lender or a small club, is arguably less volatile than much larger...
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PennantPark Investment Corporation Unconsolidated Joint Venture, PennantPark Senior Loan Fund, LLC Completes $304 Million CLO PennantPark Investment Corporation announced that PennantPark Senior Loan Fund, through PSLF’s wholly-owned and consolidated subsidiary, PennantPark CLO IV, LLC, has closed a four-year reinvestment period, 12-year final maturity $304.0 million debt securitization in the form of a collateralized loan obligation (“CLO”). The transaction is the fourth middle market CLO for PennantPark, which has issued CLO vehicles since 2019. “PennantPark remains...
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Dealmakers Look Forward to an Active but Slightly Cooler Market in 2022 Anastasia Donde – Middle Market Growth PennantPark Founder and Managing Partner, Art Penn, spoke with Middle Market Growth’s Anastasia Donde on the 2022 outlook for dealmaking. Art shared his positive outlook, noting that while it will still be a busy year for deals, he expects activity to slow down compared to the unprecedented activity in 2021.   Read the Full Article
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