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Federal Relief: Too Little Too Late? By Robin Blumenthal – Private Debt Investor PennantPark founder and Managing Partner Art Penn recently spoke with Robin Blumenthal of Private Debt Investor about the federal relief efforts intended to help companies whose businesses were upended during the disruption of the U.S. economy. While previous iterations of the programs have provided an extensive amount of capital, the Congressional Oversight Commission has suggested that the Fed and Treasury consider lowering...
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PennantPark, Pantheon to Form Private Credit Joint Venture By Kelsey Butler – Bloomberg Kelsey Butler of Bloomberg reported on our recently announced joint venture with Pantheon Ventures, highlighting that PennantPark Senior Loan Fund I LLC will hold $356 million in senior loans at fair value and provide a “more robust balance sheet and more flexible capital structure.”   Click here to read the full article
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Joint Venture to Target Middle Market Financing Opportunities Pantheon Acquires a Stake in a Special Purpose Vehicle from PennantPark Pantheon to Contribute Additional Capital Transaction Boosts Buying Power and Scales Platform Click here to download a PDF version NEW YORK, Aug. 04, 2020 (GLOBE NEWSWIRE) — PennantPark Investment Corporation (“PNNT”) (NASDAQ: PNNT) today announced it has formed a joint venture with the private credit investment business of Pantheon (“Pantheon”) to create PennantPark Senior Loan Fund...
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(NY) Secondary: Traders Favor High-Quality Loans In Bid To Withstand Volatility By Aaron Weinman – Refinitiv PennantPark founder and Managing Partner Art Penn recently spoke with Aaron Weinman of Refinitiv for a piece on activity across the secondary market.  Art provided insight into factors that continue to drive the market, such as Covid-19, prospects for a vaccine and actions from the Federal Reserve, and highlighted the secondary market opportunity that could present itself if there...
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Credit Managers To Exploit Market Dislocations By Arleen Jacobius – Pensions & Investments PennantPark Founder and Managing Partner Art Penn spoke with Arleen Jacobius of Pensions & Investments for a 2020 credit outlook piece, which highlighted the increased interest in private credit strategies emerging from the current market environment. Art provided insight into different opportunities that will prevent themselves in the credit sector and emphasized that the firm is currently focused on the secondary markets....
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Direct Lending Managers Scramble as Routine Deals Dry Up By Tom Stabile – FundFire PennantPark Founder and Managing Partner Art Penn was recently featured in Tom Stabile’s FundFire piece, which addressed how direct lenders are navigating the current market and which managers are best equipped to handle new deals. Art highlighted the value of exploring opportunities in the secondary market. “The middle market is lightly syndicated,” he said. “You can buy [loans] for a significant...
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Secondary: Douglas Dynamics’ US$275m loan ticks up as investors seek value – RLPC News By Aaron Weinman – Refinitiv PennantPark founder and Managing Partner Art Penn was quoted in Aaron Weinman’s Refinitiv piece on the secondary market, as credit investments in the space have seen an uptick alongside the wider recovery across the debt capital markets. Art noted that the secondary market has remained attractive for middle market lenders during the economic downturn. “Pricing has...
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Now Is the Time to Invest in These Debt Funds By Julie Segal – Institutional Investor PennantPark was featured in Julie Segal’s Institutional Investor piece, which analyzed a collection of opportunities in middle market lending funds and private equity. Though the recent market disruption has limited investment activity, Segal points to PennantPark’s research which highlights that money invested during crises is dedicated to deals that use less leverage and provide investors the opportunity to capitalize...
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Coronavirus: Private Equity’s Bailout Moment By Kaye Wiggins, Mark Vandevelde, and Robin Wigglesworth – Financial Times PennantPark Founder and Managing Partner Art Penn was featured in Kaye Wiggins, Mark Vandevelde, and Robin Wigglesworth’s Financial Times piece on private equity and the government’s current stimulus package. “This is the time for a bazooka,” Art said in reference to the Federal Reserve’s actions to revive the corporate debt market. “If you had the time and energy the...
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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...
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