Hamilton Lane and PennantPark Form $500 Million Middle Market Loan Venture

PennantPark Floating Rate Capital Ltd. has partnered with Hamilton Lane to launch PennantPark Senior Secured Loan Fund II (PSSL II), a joint venture targeting middle market loans. The initiative combines $200 million in committed capital—$150 million from PennantPark and $50 million from Hamilton Lane—with plans to secure an additional $300 million financing facility.

The venture aligns with PennantPark's Core origination strategy, aiming to enhance returns through senior loan solutions for middle market borrowers. Investments are expected to begin by late September. "This expands our reach as a direct lender while improving ROE and net investment income," said PennantPark CEO Arthur H. Penn, who highlighted Hamilton Lane's "world-class platform" as a strategic advantage.