PennantPark Floating Rate Capital Ltd. Announces Upsize Of Joint Venture; PFLT And Its JV Partner Jointly Agreed To Invest An Additional $100M Of Capital In PSSL
Benzinga Newsdesk 1 year ago
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Joint Venture to Continue to Target the Attractive Core Middle MarketJoint Venture Is Generating Strong ReturnsMIAMI, Dec. 12, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. ("PFLT") (NYSE:PFLT) today
Joint Venture to Continue to Target the Attractive Core Middle Market
Joint Venture Is Generating Strong Returns
MIAMI, Dec. 12, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. ("PFLT") (NYSE:PFLT) today announced it has agreed to expand its investment in PennantPark Senior Secured Loan Fund I LLC ("PSSL" or the "JV"). This transaction further strengthens this strategic partnership, which was put into place over seven years ago, and has generated strong returns to date.
PFLT and its JV partner jointly agreed to invest an additional $100 million of capital in PSSL. In conjunction with increased leverage capacity at PSSL, the $100 million investment will expand the JV's total investment capacity to $1.5 billion, representing a nearly $500 million increase.