Acts as Private Equity Fund
PennantPark Investment Corp, a business development company, invests in middle market companies primarily located in the US, with a strong management team, strong competitive positions, positive cash flow and potential for growth & viable exit strategies.
The fund targets companies operating in the fields of aerospace & defense, the auto sector, broadcasting & entertainment, buildings & real estate, business services, cable television, cargo transportation, chemicals, plastics & rubber, communications, consumer products, containers packaging & glass, distribution, diversified/conglomerate manufacturing, diversified/conglomerate services, education, energy/utilities, environmental services, financial services, grocery, healthcare, education & childcare, home & office furnishings, housewares & durable consumer products, hotels, motels, inns & gaming, leisure, amusement, motion picture, entertainment, logistics, manufacturing/basic industries, media, oil & gas, personal, food & miscellaneous services, printing & publishing, retail stores and telecommunications.
It provides financing in the form of senior secured loans, mezzanine debt & equity for LBOs and recapitalization transactions with an investment size ranging from $10 to $100 million.
It acquires non-controlling interests and also makes equity co-investments.