PennantPark Floating Rate Capital Ltd. Announces New Investment Venture with Hamilton Lane
PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) has announced the formation of PennantPark Senior Secured Loan Fund II, LLC (PSSL II), a joint venture with Hamilton Lane (Nasdaq: HLNE). The venture will focus on middle market loans with a combined commitment of $200 million from both parties - PFLT contributing $150 million and Hamilton Lane providing $50 million.
The joint venture plans to secure a $300 million financing facility, potentially growing the portfolio to $500 million initially. Investment activities are expected to commence in late September or early October 2025. This strategic partnership aims to enhance PFLT's position in middle market direct lending while potentially increasing return on equity and net investment income per share.
PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) ha annunciato la costituzione di PennantPark Senior Secured Loan Fund II, LLC (PSSL II), una joint venture con Hamilton Lane (Nasdaq: HLNE). L'operazione si concentrerà su prestiti al mercato middle con un impegno complessivo di 200 milioni di dollari da entrambe le parti — PFLT contribuirà con 150 milioni e Hamilton Lane con 50 milioni.
La joint venture intende ottenere una linea di finanziamento da 300 milioni di dollari, con la possibilità di far crescere inizialmente il portafoglio fino a 500 milioni di dollari. Le attività di investimento dovrebbero partire tra la fine di settembre e l'inizio di ottobre 2025. Questa partnership strategica mira a rafforzare la posizione di PFLT nel direct lending per il mercato medio e a incrementare potenzialmente il rendimento del capitale e il reddito netto d'investimento per azione.
PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) ha anunciado la creación de PennantPark Senior Secured Loan Fund II, LLC (PSSL II), una empresa conjunta con Hamilton Lane (Nasdaq: HLNE). La sociedad se centrará en préstamos para el mercado medio con un compromiso combinado de 200 millones de dólares por ambas partes — PFLT aportando 150 millones y Hamilton Lane 50 millones.
La joint venture planea asegurar una línea de financiación de 300 millones de dólares, con potencial para incrementar la cartera hasta 500 millones de dólares inicialmente. Se espera que las inversiones comiencen a finales de septiembre o principios de octubre de 2025. Esta asociación estratégica busca afianzar la posición de PFLT en la financiación directa del mercado medio y, potencialmente, aumentar el retorno sobre el capital y el ingreso neto de inversión por acción.
PennantPark Floating Rate Capital Ltd. (NYSE: PFLT)는 Hamilton Lane (Nasdaq: HLNE)과 함께 PennantPark Senior Secured Loan Fund II, LLC (PSSL II)를 설립했다고 발표했습니다. 이 합작회사는 미들마켓 대출에 주력하며, 양측이 총 2억 달러의 출자(commitment)를 부담합니다 — PFLT가 1억5천만 달러, Hamilton Lane이 5천만 달러를 출자합니다.
합작사는 3억 달러 규모의 자금 조달 시설을 확보할 계획이며, 초기 포트폴리오를 5억 달러까지 확대할 가능성이 있습니다. 투자 활동은 2025년 9월 말 또는 10월 초에 시작될 예정입니다. 이번 전략적 파트너십은 미들마켓 직접대출 분야에서 PFLT의 입지를 강화하고 주당 순투자수익 및 자기자본이익률을 잠재적으로 높이는 것을 목표로 합니다.
PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) a annoncé la création de PennantPark Senior Secured Loan Fund II, LLC (PSSL II), une coentreprise avec Hamilton Lane (Nasdaq: HLNE). Cette structure se concentrera sur les prêts au marché intermédiaire avec un engagement combiné de 200 millions de dollars de la part des deux partenaires — PFLT apportant 150 millions et Hamilton Lane 50 millions.
La coentreprise prévoit de mettre en place une facilité de financement de 300 millions de dollars, pouvant initialement porter le portefeuille à 500 millions de dollars. Les investissements devraient débuter fin septembre ou début octobre 2025. Ce partenariat stratégique vise à renforcer la position de PFLT dans le financement direct du marché intermédiaire et à accroître potentiellement le rendement des capitaux propres et le revenu net d'investissement par action.
PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) hat die Gründung von PennantPark Senior Secured Loan Fund II, LLC (PSSL II) bekanntgegeben, einem Joint Venture mit Hamilton Lane (Nasdaq: HLNE). Das Joint Venture wird sich auf Mittelstandskredite konzentrieren und verfügt über eine gemeinsame Verpflichtung von 200 Millionen US‑Dollar der beiden Partner – PFLT steuert 150 Millionen bei, Hamilton Lane 50 Millionen.
Geplant ist zudem die Sicherung einer Finanzierungsfazilität in Höhe von 300 Millionen US‑Dollar, mit dem Potenzial, das Portfolio zunächst auf 500 Millionen US‑Dollar zu vergrößern. Die Investitionstätigkeit soll Ende September oder Anfang Oktober 2025 beginnen. Die strategische Partnerschaft zielt darauf ab, PFLT's Stellung im Middle‑Market‑Direct‑Lending zu stärken und möglicherweise die Eigenkapitalrendite sowie das Nettoinvestitionsergebnis je Aktie zu erhöhen.
- Strategic partnership with Hamilton Lane, a major private markets investment firm managing $986 billion in assets
- Potential portfolio growth to $500 million through additional $300 million financing facility
- Expected increase in return on equity and net investment income per share
- Expansion of lending capabilities in the middle market segment
- Increased exposure to middle market credit risk
- Success dependent on securing planned $300 million financing facility
- Potential execution risks in portfolio ramp-up and management
Insights
PFLT's $200M joint venture with Hamilton Lane expands lending capacity and should boost returns through enhanced portfolio leverage.
PennantPark Floating Rate Capital's new joint venture represents a significant strategic expansion of its middle market lending capacity. The structure of PSSL II is particularly noteworthy - PFLT will contribute
This vehicle effectively acts as a leverage multiplier for PFLT, allowing it to deploy capital more efficiently than it could on its standalone balance sheet. The "II" designation suggests this follows a successful first iteration of a similar strategy. By utilizing this structure, PFLT can maintain its core middle-market direct lending focus while potentially generating enhanced returns through the additional leverage embedded in the joint venture structure.
The explicit mention by CEO Penn that this venture "should lead to a higher return on equity and net investment income per share" signals management's confidence in the accretive nature of this transaction. For a BDC like PFLT, net investment income directly impacts dividend-paying capacity, making this particularly relevant for income-focused investors.
The partnership with Hamilton Lane, which manages nearly
MIAMI, Aug. 11, 2025 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) today announced that it has formed PennantPark Senior Secured Loan Fund II, LLC (“PSSL II”), a joint venture with a fund managed by Hamilton Lane (Nasdaq: HLNE) (“HL”). PSSL II is expected to invest primarily in middle market loans consistent with PFLT’s core origination and underwriting strategy.
PFLT and HL have committed to provide a combined
“This new joint venture is another strategic step to broaden our impact as a meaningful core middle market direct lender and will expand our ability to provide senior loan solutions to core middle market sponsor and borrower clients,” stated PFLT’s Chief Executive Officer, Arthur H. Penn, adding, “Growing PSSL II should lead to a higher return on equity and net investment income per share at PFLT. Additionally, we are thrilled to partner with Hamilton Lane and their world class investment platform.”
“We are proud to deepen our longstanding partnership with PennantPark through this new joint venture, focused on what we believe to be high-quality middle-market credit opportunities. PennantPark’s leading position in the core middle market complements our commitment to delivering differentiated private credit access and strong risk-adjusted returns to our investors,” said Nayef Perry, Head of Direct Credit at Hamilton Lane.
ABOUT PENNANTPARK FLOATING RATE CAPITAL LTD.
PennantPark Floating Rate Capital Ltd. is a business development company which primarily invests in U.S. middle-market private companies in the form of floating rate senior secured loans, including first lien secured debt, second lien secured debt and subordinated debt. From time to time, the Company may also invest in equity investments. PennantPark Floating Rate Capital Ltd. is managed by PennantPark Investment Advisers, LLC.
ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC
PennantPark Investment Advisers, LLC is a leading middle market credit platform, managing approximately
ABOUT HAMILTON LANE INCORPORATED
Hamilton Lane (Nasdaq: HLNE) is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs approximately 750 professionals operating in offices throughout North America, Europe, Asia Pacific, and the Middle East. Hamilton Lane has approximately
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. PennantPark Floating Rate Capital Ltd. undertakes no duty to update any forward-looking statement made herein. You should not place undue influence on such forward-looking statements as such statements speak only as of the date on which they are made.
CONTACT:
Richard T. Allorto, Jr.
PennantPark Floating Rate Capital Ltd.
(212) 905-1000
www.pennantpark.com
FAQ
What is the size of the new joint venture between PennantPark (PFLT) and Hamilton Lane?
When will PFLT's new joint venture PSSL II begin investing?
How much assets under management does Hamilton Lane have as of June 2025?
What is the primary investment focus of PennantPark's PSSL II venture?
How will the PSSL II joint venture benefit PFLT shareholders?
