PennantPark Investment Advisers, LLC

Fear of overfunding private credit is understandable. After all, overfunding could mean increased credit risk and reduced returns for investors. While borrowers would enjoy favorable terms, it could lead to higher default risk and less-than-favorable outcomes. Thankfully, private credit is not overfunded. Here’s why: 1. Continued bank tightening drives middle market borrowers' demand toward private credit, fueling sustainable growth. 2. Certain middle market industry sectors continue demonstrating resilient growth and a desire to align funding with growth opportunities.  3. Instead of seeking funding from the public markets, companies are opting to stay private for extended periods, driving them toward private credit opportunities. 4. Private credit is an all-weather asset class, especially appealing during market volatility and fluctuating economic conditions. 🔗 Read more and gain valuable insights: https://bit.ly/49qgIAT #PrivateCredit #MiddleMarket #InvestmentTrends #PennantPark #FinancialInsights #PrivateLending #IndustryExperts This post is for informational purposes only and does not constitute an offer or solicitation. Please refer to our website or SEC filings for full details.

Is Private Credit Overfunded? 💡 December 2024 Key Drivers Behind Private Credit’s Growth: - Middle market borrowers increasingly turn to private credit as banks tighten lending, with demand fueled by private equity growth and companies staying private longer - Private credit offers investors income stability through reliable contractual cash flows, built-in inflation hedging, low correlation to public markets, and consistent performance in volatile conditions - Growing demand and alignment with private equity expansion proves that private credit is essential As the flow of capital into private credit accelerates, many investors and industry observers are questioning whether this sector is becoming oversaturated. But there’s more to the story. With bank loan tightening persisting and the privatization of the middle market advancing, the demand for private credit is set on a trajectory that defies the oversupply narrative. At PennantPark, we bring decades of expertise in navigating the private credit landscape. Our in-depth understanding of market dynamics and strategic approach to middle market investments make us trusted leaders in this evolving field. Dive into our latest exploration, where we break down the complexities and share why private credit continues to hold strategic importance. 🔗 Read more and gain valuable insights: https://bit.ly/49qgIAT #PrivateCredit #MiddleMarket #InvestmentTrends #PennantPark #FinancialInsights #PrivateLending #IndustryExperts This post is for informational purposes only and does not constitute an offer or solicitation. Please refer to our website or SEC filings for full details.

📣 PennantPark Investment Advisers, LLC Raises $610m for its Fourth Credit Opportunities Fund - PennantPark Investment Advisers has successfully closed its PennantPark Credit Opportunities Fund IV (PCOF IV), raising $610 million (£470 million) in investable capital. - PCOF IV provides investors with access to a diversified portfolio of middle-market investments, including first lien loans, second lien loans, mezzanine debt, and associated equity co-investments. - Art Penn, founder and managing partner of PennantPark, stated that the successful fundraise for PCOF IV highlights a continued interest from investors in private credit. He noted that investors are seeking experienced managers who have navigated multiple market cycles. - PCOF IV is PennantPark’s largest private credit opportunities fund to date, attracting a diverse group of investors, including insurance companies, asset managers, family offices, and both public and private pension plans. - Notable investors in PCOF IV include institutions such as the Illinois Municipal Retirement Fund, the TRUSTEES OF MINNEAPOLIS FOOD DISTRIBUTING INDUSTRY PENSION PLAN, the Wayne County Employees’ Retirement System, the City of Miramar Police Retirement Fund, the City of Hollywood Police Officers’ Retirement System, the Irving Firemen’s Relief & Retirement Fund, and the New England Teamsters Pension Fund. - Pete Mitchell, managing director and head of private capital fundraising at PennantPark, expressed appreciation for the support from both new and returning investors. He emphasized the firm’s commitment to capitalizing on the current opportunities in private credit, building long-term trust, and serving these investors well into the future. - In addition to private funds, PennantPark manages a variety of investment products, including publicly traded business development companies, separately managed accounts, joint ventures, and middle-market collateralized loan obligations. - Founded in 2007, PennantPark has invested more than $21 billion and currently manages $8.3 billion in capital for sophisticated investors.

Introducing Andrew Jordan, MD Head of Liability Management at PennantPark Investment Advisers, LLC, who will join us as a speaker in New York on November 20th, 2024 for the LPGP Connect 5th Annual CFO/COO Private Debt event. Andrew Jordan is a Managing Director and Head of Liability Management at Pennant Park. He is responsible for liability and liquidity management across all Pennant Park funds and facilities, as well as the management of Pennant Park’s external lending relationships. Before joining Pennant Park, Andrew was a Senior Advisor at Pepper from 2019 to 2022. Prior that, he was a Principal at GSO Capital Partners/Blackstone from 2006 to 2019 and a Senior Manager at Arc Partners from 2001 to 2006. Andrew holds a BA in Economics from Fordham University. Let’s gain insights into the future of private debt. Register now: : https://lnkd.in/ePmsKcpE     #CFOCOOEvent #PrivateDebt2024 #NYEvents #IndustryExperts #DebtStrategies #FinanceNetworking #ThoughtLeaders #EventSpeakers

PennantPark Announces $610 Million Final Close for its Fourth Credit Opportunities Fund MIAMI, Nov. 01, 2024 (GLOBE NEWSWIRE) –– PennantPark Investment Advisers, LLC (“PennantPark”) today announced the final close of PennantPark Credit Opportunities Fund IV (“PCOF IV”), a private closed-end fund with $610 million of investable capital. The fourth vintage in its family, PCOF IV offers investors access to a diversified portfolio of middle market investments spanning first lien loans, second lien loans, mezzanine debt, and associated equity co-investments. “The successful fundraise for PCOF IV validates our view that investors will continue to add private credit to their portfolios. Further, investors are seeking experienced managers that have been through multiple market cycles,” said Arthur Penn, Founder and Managing Partner of PennantPark. “We believe that a strong U.S. economy, elevated interest rates, and favorable market conditions for private lenders will all contribute to an excellent vintage of investments. The opportunity is particularly attractive in the core middle market where we earn wider credit spreads, take less leverage risk, and secure better lender protections compared to the upper middle market or broadly syndicated loans.” PCOF IV is the largest of PennantPark’s private credit opportunities funds to date, with a diverse set of investors spanning insurance companies, asset managers, family offices, and public and private pension plans. Notable investors include Illinois Municipal Retirement Fund, Minneapolis Food and Distributing Industry Pension Plan (Minnesota), Wayne County Employees’ Retirement System (Michigan), City of Miramar Police Retirement Fund (Florida), City of Hollywood Police Officers’ Retirement System (Florida), Irving Firemen’s Relief & Retirement Fund (Texas), and New England Teamsters Pension Fund (Massachusetts). Pete Mitchell, Managing Director and Head of Private Capital Fundraising, said, “We are gratified by the support of the new and returning investors that have entrusted us with their hard-earned capital. We’ll work relentlessly to capitalize on the current opportunity in private credit, build long-term trust, and earn the chance to serve them for many years to come.” In addition to private funds, PennantPark manages an array of product offerings spanning publicly-traded business development companies, separately managed accounts, joint ventures, and middle market collateralized loan obligations. To support these products, PennantPark’s investment team utilizes an extensive sourcing network covering hundreds of middle market private equity sponsors, with industry relationships built over multiple decades at PennantPark and predecessor firms.

Top minds in private wealth industry has shared their expertise in panels at our 11th Annual Private Wealth Latin America & the Caribbean Forum. Thank you to our speakers and attendees who have made it a great one. A huge thank you to our sponsors: MGG Investment Group LP | Axxes Capital | Driftwood Capital | Golub Capital | Grubb Properties | Henley & Partners - The Firm of Global Citizens® | Hines | Loci Capital | Smead Capital Management | Addepar | Capital Group | Flow Traders | Ivy Asset Group | LibreMax Capital | Marber Security | St Kitts and Nevis CIU Administrative Assistant | Valoro Capital | Ascendo Resources | Axcelus Financial | Bolder Group | BVI Finance Limited | Drakewood Capital Management Limited | Empira Group | Evercore | Fox Rothschild | Frontera Capital Group | IMS | Impact-iTech | Knighthead Annuity & Life Assurance Company | Lombard Odier Investment Managers | Marex | National Brokerage Atlantic, Inc. | PAAMCO Prisma | PennantPark Investment Advisers, LLC | Schafer Cullen Capital Management | Serrano Martínez CMA | StepStone Group | StoneX Group Inc. | Temenos | Wilson Wells | Winston & Strawn LLP #MarketsGroupPW

The need for food assistance in New York City is the highest on record, according to a City Harvest analysis of data from FeedNYC. Average monthly visits to NYC food pantries and soup kitchens this year remain up more than 82% compared to 2019. You can play a critical role in helping to feed our NYC neighbors in need during Hunger Action Month! Here are a few ways to get started: 🙋♀️ Volunteer 💚 Donate 🛍 Support businesses supporting us 🗳 Advocate for anti-hunger policies Learn more and take action: https://lnkd.in/e7AYHgPW Thank you to our Hunger Action Month sponsors Too Good & Co., PennantPark Investment Advisers, LLC, OXO, Shake Shack, and Sharebite. #WeAreCityHarvest

PennantPark Private Credit Mid-Year Review July 2024 Key Themes: • Private credit is not a monolith; distinct trends emerge across market segments • The core middle market flies under the radar while competitive pressures mount at the top end of the market • Yields remain historically attractive even after spread compression • Deal flow bounces back with a buyout rebound on the horizon • Default rates generally remain muted, though warning signs emerge

Deep Dive into BDCs: How to Invest in Growing Businesses Investing in Business Development Companies (BDCs) provides investors with the potential for income alpha and lower volatility compared to traditional fixed income. Because of their exposure to private markets, BDCs can potentially increase portfolio diversification and reduce overall portfolio risk. 

Is the private credit asset class an unstoppable force, and will it take away from BSL CLOs? 🤔 At the CLO Investor Summit yesterday, Debtwire’s Josh O'Neill sat down with Jerry van Koolbergen (Morningstar DBRS), Terence Clerkin (PennantPark Investment Advisers, LLC), Dinko Angelov (Audax Private Debt), and Alex Silberman (Blue Owl Capital) to explore the growth of private credit CLOs in 2024. 🎥 Hear what the experts had to say on-demand now: https://lnkd.in/gmkmxm-N