MIAMI, June 02, 2022 (GLOBE NEWSWIRE) — PennantPark Investment Advisers, LLC announced today the addition of Richard T. Allorto, Jr. as a senior executive on its Finance and Operations team. Mr. Allorto reports into PennantPark group Chief Financial Officer, Richard Cheung. Mr. Allorto will be responsible for financial oversight of and will serve as Chief Financial Officer of PennantPark’s two publicly-traded business development companies, PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) (TASE: PFLT) and PennantPark Investment Corporation (NYSE: PNNT).

“The growth of our overall platform into many different structures including business development companies, joint ventures, commingled funds, collateralized loan obligations and separately managed accounts has created the need to bring additional outstanding talent into our firm,” said Art Penn, Managing Partner of PennantPark Investment Advisers, LLC. “We are thrilled that we were able to recruit an experienced and talented financial executive such as Rick into the platform.”

Mr. Allorto previously held chief financial officer and senior financial positions at Sierra Income Corporation, Medley Capital Corporation, Medley Management and GSC Investment Corporation.

ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC

PennantPark Investment Advisers, LLC is a leading middle-market credit platform, managing $6.0 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:

PennantPark Investment Advisers LLC
Richard Cheung
212-905-1000
rcheung@pennantpark.com