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Laxman Pai, Opalesque Asia: Monroe Capital LLC has wrapped up its latest private credit fund after collecting $1.33 billion from limited partners, marking the largest fundraise in firm history.
The Chicago-based specialty lender said in a release that the new fund will provide debt financing for midmarket companies. It also said that limited partner commitments with over 100 investors in eight countries, eclipsed the Fund target of $800m.
When combined with target Fund leverage, the Fund will have more than $2.5bn of buying power or capital available for investment, it said.
The release quoted Ted Koenig, President and CEO of Monroe as saying: "Private credit is an appealing area for institutional investors due to the ability to generate consistent absolute returns in a low yield environment. Investors have many choices in this space, many of which are recently created firms."
"The institutional investor and limited partner community has come to appreciate the differentiated returns and consistent risk adjusted returns that Monroe has been able to generate every year over the last 14-year period, regardless of the business cycle or economic climate," he claimed.
The Fund is Monroe's 17th investment vehicle since its founding in 2004. The Fund received commitments from over 50 new institutional investors.
The Fund investors are located throughout the U.S., Canada, Europe, Australia, South America, Asia and the Middle East, and include leading public and p...................... To view our full article Click here
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