On May 4, 2022, Penfund Management Limited, a firm offering junior capital to North American middle market companies, revealed that Bonaccord Capital Partners has purchased a minority stake in their company. Bonaccord, a private equity firm, specializes in acquiring non-controlling shares of mid-market private market sponsors. The financial terms of the investment were undisclosed. This strategic move will allow Penfund to increase its commitments to institutional partners and spur the development of new products in North American credit markets. Penfund's management and operations, as well as its investment and decision-making processes, will continue without alteration post-investment. Richard Bradlow, Partner at Penfund, acknowledged the investment as a significant step for the company's growth and emphasized the strategic alignment with Bonaccord's vision and capabilities. Ajay Chitkara, Managing Partner at Bonaccord, expressed excitement over the partnership, commending Penfund's proven credit investment skills and strong performance history. For this transaction, Penfund was advised by Colchester Partners regarding financial matters, KPMG for tax and structuring advice, while Kirkland & Ellis LLP and Stikeman Elliott LLP provided legal counsel. Bonaccord's legal advisors were Fried Frank and Goodmans LLP. The partnership is anticipated to position Penfund for further success in the debt capital markets.