PennantPark Floating Rate Capital (NASDAQ:PFLT) (NASDAQ: PFLT) is a business development company (BDC) that provides floating rate senior secured loans and other debt investments to U.S. middle–market companies. Since commencing operations in 2010, the firm has specialized in offering financing solutions to privately held businesses seeking capital for growth initiatives, acquisitions, refinancings, recapitalizations and buyouts. Its portfolio predominantly consists of first‐lien and second‐lien senior secured debt, complemented by select mezzanine and unitranche structures, all designed to deliver attractive, risk‐adjusted income streams linked to prevailing interest rates.
The company’s investment strategy centers on partnering with management teams across diverse industry sectors—including healthcare, technology, manufacturing and business services—to structure tailored financing packages. Through an active underwriting process and ongoing portfolio monitoring, PennantPark Floating Rate Capital seeks to mitigate downside risk while capturing upside potential in both stable and cyclical market environments. Its floating rate mandate enables the firm to benefit from rising rate cycles, providing investors with a hedge against inflation and interest‐rate volatility.
PennantPark Floating Rate Capital is externally managed by PennantPark Investment Advisers, LLC, an independent registered investment adviser founded in 2008 and based in New York City. Drawing on more than two decades of collective experience in leveraged finance and direct lending, the firm’s investment professionals conduct rigorous credit analysis, negotiate covenant protections and actively engage in portfolio company governance. This disciplined approach underpins PFLT’s commitment to capital preservation and consistent distribution coverage.
Leadership at PennantPark Floating Rate Capital is headed by a team of seasoned credit specialists and industry veterans who oversee deal sourcing, execution and asset management. Leveraging deep relationships across the private credit ecosystem, the firm aims to deliver stable monthly distributions and long‐term capital appreciation for shareholders. Through diversified exposures, rigorous due diligence and proactive risk management, PennantPark Floating Rate Capital remains focused on meeting the evolving financing needs of middle–market companies while striving to generate durable returns for its investors.
