PennantPark closes opportunistic credit strategy

The PennantPark Credit Opportunities Fund III is now closed to outside investors, signaling continued investor interest in the absolute returns available within opportunistic credit.

This is the fourth dedicated investment vehicle in this niche investment space for the New York-based PennantPark, raising approximately $375 million of a total fundraise of $750 million between this fund and the PennantPark Senior Loan Fund I, which was launched in August 2020.

The Credit Opportunities Fund III strategy is . . .

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