PennantPark was founded in 2007 by Art Penn and a close-knit team of middle market direct lending experts. Our vision for founding PennantPark was to create an independent credit provider, free of conflicts and affiliations, which could become a trusted partner with creative and flexible capital solutions for middle market private equity sponsors and companies.
We focus on middle market companies with $10-50 million of EBITDA owned by private equity sponsors with a track record of supporting their portfolio companies. This practice is designed to enhance alignment of interests between lenders and equity investors. Our capital is deployed across every segment of the capital structure, from senior secured debt, to subordinated debt, to non-controlling equity. The core tenets of our investment approach include a focus on capital preservation, identifying strong cash flows, and cultivating strong working relationships with our sponsors and portfolio companies.
Since inception, PennantPark has invested $9 billion into more than 525 portfolio investments, throughout North America and Western Europe. Today, PennantPark manages approximately $3 billion across two strategies in this space: 1) Opportunistic / Across the Capital Structure and 2) Senior Debt.