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Laxman Pai, Opalesque Asia: American Equity Investment Life Holding, which is engaged in the development and sale of annuity and life insurance products, committed $1 billion and became the anchor investor in a new private credit fund focused on technology lending that is managed by Monroe Capital, a premier boutique asset manager specializing in private credit, with $11.2 billion in assets.
The investment will center on Monroe Capital's dedicated lending platform, geared towards Software, Technology, and Recurring Revenue (STARR) loans. The focus going forward will be software and technology-enabled combines that offer high return-on-investment software technology services for its customers.
"Our commitment to the STARR strategy demonstrates the ability of our investment platform to find assets that generate attractive investment income on a risk-adjusted basis," said Jim Hamalainen, executive vice president and CIO of insurance at American Equity, in the joint news release.
The new fund has a $3.5 billion fundraising target and would target loans to middle-market software, technology, and recurring revenue companies made by Monroe.
Ted Koenig, Chairman and CEO of Monroe added, "The American Equity in our technology lending platform is a strategy where we can add differentiation for our investor's portfolios while generating "alpha". Having a strategic partnership with American Equity will allow us to continue to scale our efforts in this fast-growing s...................... To view our full article Click here
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