Kohlberg Capital has formed a new distressed investment platform called Panagos Katz Situational Investing. It will be run by Steven Pagnagos, former national practice leader of Kroll Zolfo Cooper's Corporate Advisory & Restructuring practice, and Jonathan Katz, the founding partner of Special Situation Investing. Kohlberg Capital is a publicly-traded affiliate of mid-market buyout firm Kohlberg & Co.
Kohlberg Capital Corporation (Nasdaq:KCAP) (“Kohlberg Capital”) today announced that it has formed Panagos Katz Situational Investing (“PKSI”), a new distressed investing platform, in partnership with Steven Panagos and Jonathan Katz. Mr. Panagos was most recently the National Practice Leader and a Managing Director of Kroll Zolfo Cooper's Corporate Advisory & Restructuring practice. Mr. Katz was most recently the Founding Partner of Special Situations Investing, JPMorgan's distressed investing vehicle for
PKSI and funds managed by it will invest in the debt and equity of companies that are entering into or in the process of restructuring due to financial or operational distress. PKSI will also selectively originate new credit facilities with borrowers that are otherwise unable to access the traditional markets.
Chris Lacovara, Chairman of Kohlberg Capital, said, “We are delighted to have the opportunity to partner with Steve and Jon in the establishment of the PKSI platform. The longstanding relationships of the PKSI principals with corporate restructuring professionals will offer Kohlberg Capital an immediate source of proprietary distressed debt investment opportunities. The participation of Kohlberg Capital in the PKSI platform will provide Steve and Jon with capital and credit infrastructure to enable them to execute their strategy in a market which should see a substantial near-term proliferation of opportunities.”
Steven Panagos of PKSI noted, “Kohlberg Capital's corporate finance expertise, long-term perspective and sterling reputation make them the optimal partner for PKSI's reasonable-investor approach. We look forward to working with the Kohlberg Capital team as the opportunities to deploy capital ripen in this market cycle.”
About Kohlberg Capital Corporation:
Kohlberg Capital Corporation is a publicly traded, internally managed business development company. Our middle market investment business originates, structures, finances and manages a portfolio of term loans, mezzanine investments and selected equity securities in middle market companies. Our wholly-owned portfolio company, Katonah Debt Advisors and its affiliates, manages CLO Funds that invest in broadly syndicated corporate term loans, high-yield bonds and other credit instruments.
Kohlberg Capital Corporation's filings with the Securities and Exchange Commission, earnings releases, press releases and other financial, operational and governance information are available on the Company's website at www.kohlbergcapital.com.