PennantPark Private Income Fund (the “Fund”) is a perpetual private business development company (“BDC”) that seeks to generate current income and capital preservation by investing primarily in directly originated, senior secured loans to private equity sponsor-backed U.S. middle market companies with EBITDA between $10 million and $50 million. The Fund emphasizes first lien loans with conservative leverage profiles, covenants, and meaningful equity support from private equity sponsors.
The structure is designed to provide investors with monthly income distributions, periodic liquidity, and simplified 1099 tax reporting.
Target a diversified portfolio of directly originated senior secured loans with lower leverage and stronger structural protections
The Fund seeks to pay monthly cash distributions derived primarily from interest income
The core middle market offers a compelling complement to the upper middle market
Floating-rate securities adjust automatically to interest rates fluctuations
Founded in 2007: As one of the more established private credit managers in the market, we were among a relatively small group of firms operating prior to the Global Financial Crisis.
Performance Across Market Cycles: Having successfully navigated market environments ranging from the Global Financial Crisis to the COVID-19 pandemic, PennantPark has a demonstrated track record of prioritizing and protecting investor capital through periods of significant market stress.
$26 Billion Deployed: PennantPark has provided sophisticated investors worldwide with access to alternative credit opportunities spanning public and private investment funds.
Experienced & Stable Investment Team: PennantPark’s investment team combines expertise and stability, with senior professionals averaging over 30 years of industry experience. Many members of our leadership team have worked together since the mid-1990s, bringing continuity and a long history of collaboration.
Art Penn
Founder & Managing Partner
Jose Briones
Senior Partner
James Stone
Partner
Scott McCabe
MD, Head of Private Wealth Solutions
| Strategy | Generate current income and total returns by investing in first lien senior secured loans |
| Investor Eligibility | Accredited Investors, taxable and non-taxable |
| Structure | Perpetual Private BDC |
| Subscriptions | Monthly |
| Minimum Commitment | $50,000 |
| Liquidity | Quarterly repurchase program of up to 5% of NAV, subject to the discretion of the Board of Trustees |
| Distributions | Monthly |
| Tax Treatment | Form 1099 |
| Administrator / Transfer Agent | State Street |
| Fund Custodian | State Street |
| Independent Auditor | RSM US LLP |
