PennantPark seeks $1bn for a new syndicated loan fund

PennantPark Investment Advisers is raising $250 million to $1 billion for a broadly syndicated loan fund to capture discounted assets, according to market sources.

The $3.8 billion firm based in New York has two main platforms – opportunistic and senior credit. They also have two BDCs and launched a middle-market collateralized loan obligation (CLO) last year.

"We are looking at potential bargains in the broadly syndicated loan space because there are some solid companies that do not seem to be impacted by Covid-19 at discounted prices," Art Penn, managing partner and founder . . .

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David Graubard

David Graubard is a financial writer with deep expertise in bonds. He brings readers actionable content from his experience as a bond trader and a collateralized loan obligation analyst.

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