FUNDRAISING NEWS | November 04, 2024
PennantPark Investment Advisers has closed on $610M in capital commitments for the fourth iteration of its credit opportunities fund series.
The closed-end PennantPark Credit Opportunities Fund IV will seek middle-market investments through first-lien loans, second-lien loans, mezzanine debt, and associated equity co-investments. It is the Miami-based firm’s largest private credit fund to date, backed by commitments from a diversified investor base such as asset managers, insurance companies, family offices, and pensions.
Per Dakota data, pensions that committed to Fund IV include the Illinois Municipal Retirement Fund, which allocated $50M; the Wayne County-Employees Retirement System, with $20M; the City of Pompano Beach Police & Firefighters' Retirement System and the Macomb County Employees Retirement System, with $7M each; and the Hollywood Police Officers Retirement System, with $4M.
