News

New Commitments Increase Investment Capacity by $460 Million PennantPark Investment Advisers, LLC officially announced the successful closing of our fifth commingled fund, PennantPark Senior Credit Fund Levered, LP, which secured $460 million in additional investment capacity and marked another significant step forward in the growth of our middle market private credit investment business. From pre-COVID inception in mid-2019 through March 31, 2021, PSCF-Lev’s gross and net annualized returns were 17.7% and 15.3%, respectively, surpassing the...Continue Reading

(NY) PennantPark Locks Down US$460m for Middle Market Lending – RLPC News Andrew Hedlund – Refinitiv Andrew Hedlund of Refinitiv shared news of the successful closing of PennantPark’s fifth comingled fund, PennantPark Senior Credit Fund Levered (“PSCF-Lev”), which secured $460 million in additional investment capacity. From pre-COVID inception in mid-2019 through March 31, 2021, the fund has posted annualized gross and net internal rates of return (IRR) of 17.7% and 15.3, respectively, surpassing the target...Continue Reading

NEW YORK , June 21, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) (“we,” “our,” “PFLT” or the “Company”) announced today that it has appointed Richard Cheung as its Chief Financial Officer and Treasurer, effective June 21, 2021 .Continue Reading

NEW YORK , June 21, 2021 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (NASDAQ: PNNT) (“we,” “our,” “PNNT” or the “Company”) announced today that it has appointed Richard Cheung as its Chief Financial Officer and Treasurer, effective June 21, 2021 .Continue Reading

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...Continue Reading

NEW YORK , June 02, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for June 2021 of $0.095 per share, payable on July 1, 2021 to stockholders of record as of June 17, 2021 .Continue Reading

NEW YORK , June 02, 2021 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NASDAQ: PNNT) declares its third fiscal quarter 2021 distribution of $0.12 per share, payable on July 1, 2021 to stockholders of record as of June 17, 2021 .Continue Reading

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...Continue Reading

“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...Continue Reading