Pete Mitchell joined PennantPark Investment Advisers, a middle-market credit platform, as managing director and head of private capital fundraising. Mitchell will lead fundraising for PennantPark’s private vehicles as the firm continues to expand its middle-market private credit investment business.

Mitchell joined PennantPark from Crescent Capital, where he was responsible for marketing the company’s strategy to institutional investors. His past experience includes senior and leadership roles at Thornburg Investment Management, EnTrust Capital and Snow Capital Management. Mitchell also spent nine years playing in the NFL, including five years with the Jacksonville Jaguars, two years and a Super Bowl XXXV appearance with the New York Giants and one year each with the Detroit Lions and the Indianapolis Colts.

“We are pleased to welcome Pete to our team, as he brings years of expertise and deep relationships, particularly with pension funds,” Art Penn, founder and managing partner of PennantPark Investment Advisors, said. “He will be a tremendous asset to the firm as we look to meet investor demand for our expanding private credit business.”

In June, PennantPark Investment Advisors closed its fifth comingled fund, PSCF-Lev. This followed the close of PCOF III in December 2020 and the formation of PSLF, a joint venture with Pantheon, in August 2020.

From pre-COVID-19 pandemic inception in mid-2019 through June 30 of this year, PSCF-Lev has reported gross and net annualized returns of 16.1% and 13.6%, respectively, surpassing net returns target of 8% to 10%, while its unlevered sleeve, PSCF, reported gross and net annualized returns of 11.1% and 9.5%, respectively, surpassing target net returns target of 6% to 8%. Additionally, PCOF III reported gross and net annualized returns of 31.4% and 26.1%, respectively, also surpassing target net returns of 12% to 14% from pre-COVID-19 pandemic inception at the end of 2018 through June 30 of this year.