PFLT

PennantPark Floating Rate Capital Ltd. is a business development company (BDC) that originates and invests primarily in U.S. middle-market private debt. Headquartered in Miami, Florida, the company targets investments in senior secured loans, including first lien and second lien debt, to companies with strong fundamentals across diverse industries. PFLT focuses on businesses with annual revenues typically between $50 million and $500 million, providing customized financing solutions that often accompany equity sponsor transactions. The company's investment portfolio spans sectors including business services, healthcare, software, consumer products, and manufacturing, with typical individual investment sizes ranging from $5 million to $20 million. As an externally managed BDC, PFLT is managed by PennantPark Investment Advisers, LLC, which leverages a team of investment professionals with extensive middle-market lending experience. The company's floating rate investment strategy is designed to benefit from rising interest rate environments, as its senior secured loans predominantly carry variable interest rates tied to benchmark indices. PFLT is traded on the NASDAQ under the ticker symbol PFLT and operates as a regulated investment company under the Investment Company Act of 1940. The firm maintains a diversified portfolio approach, typically holding investments in 80 to 100 companies, aiming to generate current income and capital appreciation while managing credit risk through rigorous due diligence and active portfolio monitoring.