PennantPark

We’re excited to share that we have joined the CAIS platform, expanding access to our core middle market private credit capabilities for financial advisors and their high-net-worth clients. Investors are increasingly looking to diversify beyond large, crowded managers. As one of the longest-tenured private credit managers, we bring a specialized focus on the core middle market, disciplined underwriting, and experience investing through multiple market cycles since 2007. Joining CAIS marks an important step in expanding our private wealth business and delivering differentiated private credit solutions designed to provide income, diversification, and downside protection. Read more in the full release: https://lnkd.in/gVxgbfGx #PennantPark #DirectLending #CoreMiddleMarket #YourCoreMiddleMarketPartner #AssetAllocation

The private credit conversation is evolving from “why allocate?” to “how do we evaluate it well?” As the market continues to grow, advisors are asking sharper questions about liquidity, valuation, structure, underwriting discipline, and what really drives downside protection. PennantPark Partner James Stone will be presenting at With Intelligence's summer retreat, bringing PennantPark’s perspective on where private credit is showing strength, where risks may be building, and what advisors should be watching more closely. Scott McCabe, Managing Director and Head of Private Wealth Solutions, will also be attending. Reach out to James or Scott to connect at the event. #PennantPark #DirectLending #CoreMiddleMarket #YourCoreMiddleMarketPartner #AssetAllocation

Heading to Wealth Management EDGE? Juan Ledezma Turner will be in Boca Raton June 9–11 and would welcome the chance to connect. If you’re looking to learn more about the core middle market and how it may fit into private credit conversations with clients, reach out to Juan to set up time to meet. #WMEDGE #EDGE #WealthManagement #WME #PennantPark #DirectLending #CoreMiddleMarket #YourCoreMiddleMarketPartner #AssetAllocation

Not all distribution yields are created the same. In business development companies (BDCs), the headline number is just the starting point. What matters is how that distribution is generated and whether it is supported by current earning power. Over time, any gap between the two shows up somewhere. In our latest piece, we break down five underlying mechanics to evaluate how a distribution is funded. Swipe through for a quick breakdown or read the full article here: https://lnkd.in/dNm4YjBR #PennantPark #DirectLending #CoreMiddleMarket #YourCoreMiddleMarketPartner #AssetAllocation

“Your Core Middle Market Credit Partner.” That’s not just a tagline. It’s how PennantPark has built its business since 2007. In this short video, Art Penn, Jose Briones, and Scott McCabe break down what sets the firm apart: • Focus on companies under $50M EBITDA, a less crowded segment with stronger protections • A senior team with decades of shared experience and deep restructuring expertise • Highly selective underwriting with a focus on capital preservation • Relationship-driven sourcing across hundreds of private equity sponsors The result is a strategy grounded in experience, discipline, and long-term partnership. Watch the video to learn how PennantPark approaches private credit and why the core middle market continues to stand apart. #PennantPark #DirectLending #CoreMiddleMarket #YourCoreMiddleMarketPartner #AssetAllocation

Would you pick an 8% yield or a 10% yield? For many investors, the answer is obvious. But distribution yield, by itself, is one of the most misleading metrics in the BDC universe. Managers can support a distribution that exceeds current earning power through spillover income, return of capital, PIK income, and other mechanics. On paper, the yield looks strong. In practice, NAV can be quietly drifting lower over time. That’s what we break down in our latest piece. Distribution yield is a starting point, not an answer. The headlines often tell one story. The portfolio tells another. Read it now: https://lnkd.in/dNm4YjBR #PennantPark #DirectLending #CoreMiddleMarket #YourCoreMiddleMarketPartner #AssetAllocation

We’re headed to CAIS Live South in Amelia Island for another stop in the CAIS Live series. Brian Lee and Juan Ledezma Turner are looking forward to connecting with advisors and continuing the conversation around what is driving today’s private credit narrative and how it differs in the core middle market. #CAIS #CAISLIVE #PennantPark #DirectLending #CoreMiddleMarket #YourCoreMiddleMarketPartner #AssetAllocation

Private credit can play a distinct role in portfolio construction. With contractual cash flows, attractive yields, and floating rate income that adjusts with the base rate, it has historically served as a potential hedge in inflationary environments while maintaining lower correlation to public markets. But it’s not a uniform asset class. Differences across segments can meaningfully impact outcomes, making where you invest within private credit an important consideration. As our Founder and Managing Partner, Art Penn, explains in this clip, diversification within private credit is key from a portfolio construction standpoint. For additional context and the full discussion, watch the complete webinar recording, 𝘍𝘢𝘤𝘵 𝘷𝘴 𝘍𝘪𝘤𝘵𝘪𝘰𝘯 𝘞𝘩𝘢𝘵’𝘴 𝘙𝘦𝘢𝘭𝘭𝘺 𝘏𝘢𝘱𝘱𝘦𝘯𝘪𝘯𝘨 𝘪𝘯 𝘗𝘳𝘪𝘷𝘢𝘵𝘦 𝘊𝘳𝘦𝘥𝘪𝘵, here: https://lnkd.in/gyNnBS7d #PennantPark #DirectLending #CoreMiddleMarket #YourCoreMiddleMarketPartner #AssetAllocation

AI is getting a lot of attention across private credit. But how that exposure is actually managed can vary meaningfully. In this clip, PennantPark's Founder and Managing Partner, Art Penn, explains how the firm approaches software within its portfolio and the role of underwriting discipline in that process. Software represents 4.7% of PennantPark’s portfolio, reflecting a long-standing positioning relative to other areas of the market. He also touches on how underwriting approaches can differ across segments, including considerations such as leverage, spreads, documentation, and cash flow. For additional context and the full discussion, watch the complete webinar recording, 𝘍𝘢𝘤𝘵 𝘷𝘴 𝘍𝘪𝘤𝘵𝘪𝘰𝘯 𝘞𝘩𝘢𝘵’𝘴 𝘙𝘦𝘢𝘭𝘭𝘺 𝘏𝘢𝘱𝘱𝘦𝘯𝘪𝘯𝘨 𝘪𝘯 𝘗𝘳𝘪𝘷𝘢𝘵𝘦 𝘊𝘳𝘦𝘥𝘪𝘵, here: https://lnkd.in/gyNnBS7d #PennantPark #DirectLending #CoreMiddleMarket #YourCoreMiddleMarketPartner #AssetAllocation

Proud to be a partner at Ascend 2026: Concurrent’s National Conference in Austin. We appreciate the opportunity to be part of this event and to engage with the Concurrent advisor community. Juan Ledezma Turner and Brian Lee are on site and looking forward to connecting with advisors and discussing today’s private credit landscape, including how the core middle market fits within client portfolios. Our Senior Partner, Jose Briones, will be also be joining a panel where he will share perspective on the evolving role of semi-liquid private markets and what advisors should be paying attention to today. If you are attending, reach out to the team. They look forward to the conversation. #Ascend2026 #PoweredByConcurrent #PennantPark #DirectLending #CoreMiddleMarket #YourCoreMiddleMarketPartner #AssetAllocation