PennantPark Floating Rate Capital Ltd. Appoints Senior Partner of PennantPark to Its Board of Directors

Rhea-AI Summary

PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) has appointed José A. Briones, Jr. to its Board of Directors as of May 3, 2022. Briones, a Senior Partner at PennantPark Investment Advisers, brings extensive industry experience to the board. His previous roles include a Partner at Apollo Investment Management, enhancing the board's strategic capabilities. This appointment expands the board to six members, indicating a focus on strengthening leadership as the firm navigates opportunities in the middle market credit landscape.

Positive

• José A. Briones brings extensive experience from Apollo Investment Management, enhancing strategic leadership.
• Appointment signifies a commitment to strengthening the board and enhancing decision-making.

Negative

• None.

MIAMI, May 06, 2022 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the “Company”) (NYSE: PFLT) (TASE: PFLT) announced today the appointment of Mr. José A. Briones, Jr. to the Company’s Board of Directors, effective May 3, 2022. Mr. Briones is a Senior Partner at PennantPark Investment Advisers, LLC (“PennantPark”). His appointment brings the Company’s Board of Directors to six members.

“On behalf of the Company’s Board of Directors and PennantPark, I am delighted to welcome José to the Company’s Board of Directors. José has been instrumental to our success, and we look forward to his contributions for many years ahead,” said Art Penn, Chairman and CEO. “Our firm continues to provide investors attractive risk/return across the middle market credit landscape, driven by our relationship-focused origination profile in the core middle market, where we are an important strategic capital provider to growing companies.”

Mr. Briones joined PennantPark in December 2009, and oversees originating, underwriting, executing and monitoring investments for the company. He is also responsible for various strategic initiatives.

Prior to joining PennantPark, he was a Partner at Apollo Investment Management, L.P. and a member of its investment committee from 2006 until he joined PennantPark. Mr. Briones also spent time with UBS Securities, JP Morgan, and BT Securities and BT Alex Brown Inc.

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 $6 billion of investable capital, including potential leverage. Since its inception in 2007, PennantPark Investment Advisers, LLC has provided investors access to middle market credit by offering private equity firms and their portfolio companies as well as other middle-market borrowers a comprehensive range of creative and flexible financing solutions. PennantPark Investment Advisers, LLC is headquartered in Miami and has offices in New York, Chicago, Houston and Los Angeles.

CONTACT:

Richard Cheung PennantPark Floating Rate Capital Ltd. (212) 905-1000 www.pennantpark.com

 

FAQ

Who is the new board member appointed at PennantPark Floating Rate Capital Ltd. in May 2022?

José A. Briones, Jr. was appointed to the Board of Directors effective May 3, 2022.

What experience does José A. Briones bring to the Board of Directors at PFLT?

Briones has significant experience as a Senior Partner at PennantPark Investment Advisers and previously as a Partner at Apollo Investment Management.

How many members are currently on the Board of Directors of PennantPark Floating Rate Capital Ltd.?

The Board of Directors now consists of six members following the recent appointment.

What role does José A. Briones play at PennantPark Investment Advisers?

He oversees originating, underwriting, and executing investments, also handling various strategic initiatives.

What is the significance of José A. Briones's appointment to PFLT's Board?

His appointment is expected to drive strategic initiatives and enhance the company's leadership in the middle market credit sector.