PennantPark enters private wealth market with new interval fund

What's the deal? PennantParkDealroom has a profile for this one. Try Dealroom → has launched the PennantPark Enhanced Income Fund (PNTIX)Dealroom has a profile for this one. Try Dealroom →, a new interval fund, with Cincinnati-based Ultimus Fund SolutionsDealroom has a profile for this one. Try Dealroom → handling its launch and ongoing operations.

Why now? The launch marks the alternative credit specialist's entry into the private wealth market, giving retail investors access to strategies that have traditionally been available mainly to institutions. PennantPark, founded in 2007, manages roughly $10 billion of investable capital and focuses on middle-market credit.

The signal: Ultimus says it services interval and tender-offer funds, business development companies and real estate investment trusts, administering more than 2,500 funds with over $775 billion in assets. Art PennDealroom has a profile for this one. Try Dealroom →, PennantPark's managing partner, said the firm's team helped it move into the private wealth market.

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