This week we chat with Art Penn, Founder and Managing Partner, PennantPark. PennantPark Investment Advisers– founded in 2007 – is a leading investment firm focused on partnering with middle-market companies to provide them with creative and flexible capital.
The Lead Left: Art, you’ve had nearly 30 years of experience in middle market debt. Where are we in the business and capital formation cycle?
Art Penn: Deal flow feels more robust now than it did earlier in the year. First quarter volume tends to be seasonal, thus a little less active. It was definitely an atypical market in January and February. Public markets were in disarray and volumes contracted more than usual. Activity appears to be picking up.