Small – Mid Cap

Like PENN Small Cap, the PENN Small to Mid Cap Equity style targets companies that trade at attractive valuations, have proven management teams, and sound prospects for growth. However, we extend the opportunity set to a capitalization range consistent with the Russell 2500.

PENN’s defining element is our fully integrated credit and equity research process. Through our day to day involvement in the high yield bond market, our team attempts to identify companies with “capital structure catalysts,” or strategies to lower their debt burden and overall cost of capital.

This type of corporate “de-leveraging” strategy enhances equity value. Our goal is to be an early identifier of these opportunities, and our involvement in the high yield corporate bond market assists us in that process.