PennantPark Floating Rate Capital Q1 Earnings: NII of $0.27/Shr, NAV Down 3.1% to $10.49/Shr, Joint Venture PSSL II Invests $326M in Q1

PennantPark Floating Rate Capital reported Q1 2026 core net investment income (NII) of $0.27 per share, matching GAAP NII. The company highlighted early progress in ramping its newly launched joint venture, PSSL II, and pointed to improving private middle-market M&A activity as a potential tailwind for originations and portfolio repayments. NAV declined to $10.49 per share at Dec. 31, down 3.1% from $10.83 in the prior quarter. The firm is seeing an increase in M&A transaction activity across the private middle market, which may expand the pipeline for new investments.