Investors

PennantPark waives fees during energy rout

The New York-based BDC didn’t charge shareholders management or incentive fees in Q2 as it continues to trek through a difficult period for energy investments.

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The PennantPark Investment Corporation (PNNT) waived both management and incentive fees, as the BDC endures a less favourable period for energy investments. The vehicle reported lower net investment income (NII) at $17.8 million in the second quarter of 2016, compared with $20.6 million in the same quarter last year.

The fee waiver amounted to $1.6