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. ...