PennantPark Investment Advisers adds Senior Executive to Finance and Operations Team
June 02 2022 - 4:05PM
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 LLCRichard
Cheung212-905-1000rcheung@pennantpark.com
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