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PennantPark Investment Corporation Appoints Senior Partner of PennantPark to Its Board of Directors

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PennantPark Investment Corporation (NYSE: PNNT) has appointed Mr. José A. Briones, Jr. to its Board of Directors, effective May 3, 2022, increasing the board's membership to six. Briones is a Senior Partner at PennantPark Investment Advisers and has been with the firm since 2009, overseeing investments and strategic initiatives. His experience includes roles at Apollo Investment Management and various financial institutions. The company focuses on providing risk/return opportunities in the middle market credit landscape, enhancing its stature as a strategic capital provider to growing companies.

Positive
  • José A. Briones brings significant experience to the Board, enhancing leadership.
  • His appointment could lead to strategic growth and improved decision-making.
Negative
  • Concerns about continuity if the board lacks diverse perspectives due to its small size.

MIAMI, May 06, 2022 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the “Company”) (NYSE: PNNT) 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 INVESTMENT CORPORATION

PennantPark Investment Corporation is a business development company which invests primarily in U.S. middle-market companies in the form of first lien secured debt, second lien secured debt, subordinated debt and equity investments. PennantPark Investment Corporation 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.

CONTACTRichard Cheung
PennantPark Investment Corporation
(212) 905-1000
www.pennantpark.com

FAQ

Who is José A. Briones, Jr. in relation to PennantPark?

José A. Briones, Jr. is a Senior Partner at PennantPark Investment Advisers and has been appointed to the Board of Directors of PennantPark Investment Corporation.

What impact may José A. Briones's appointment have on PennantPark?

His experience in middle-market credit and strategic initiatives is expected to strengthen the board's effectiveness.

When was the appointment of José A. Briones, Jr. to the Board announced?

The appointment was announced on May 6, 2022, and became effective on May 3, 2022.

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