Bonaccord has acquired a minority stake in Monroe Capital, a middle-market private credit firm. No financial terms were disclosed.
CHICAGO–(BUSINESS WIRE)–Monroe Capital LLC (“Monroe” or the “Firm”), a leading middle market private credit investment manager with approximately $10 billion in assets under management, today announced that it has sold a passive minority equity stake to Bonaccord Capital Partners (“Bonaccord”), a division of Aberdeen Standard Investments (“ASI”). Terms of the investment were not disclosed.
Bonaccord’s investment will provide Monroe with additional resources to pursue strategic initiatives, as it continues its important alignment with clients. The investment will have no impact on the day-to-day management or operations of Monroe. The investment is non-voting, and the Firm’s investment and decision-making processes will remain unchanged.
“We are delighted to have Bonaccord and ASI as a long-term strategic investment partner. ASI is one of the very largest and most sophisticated European asset management firms. Bonaccord’s experience and track record of supporting leading alternative asset managers will be helpful to us as we continue to strategically build and scale our platform to better serve our limited partners and other investors,” said Ted Koenig, President & CEO of Monroe Capital LLC.
“Monroe is a world-class investment firm that possesses remarkable depth and breadth of expertise across the private credit markets,” said Ajay Chitkara, Head of Bonaccord Capital Partners. “The firm has distinguished itself through its exceptional management and investment team. With a very strong investment track record, we believe they are strategically positioned to further capitalize on a broad array of unique investment opportunities across the private credit spectrum. We look forward to supporting Ted and the entire Monroe team in the years to come.”
Mark Redman, Global Head of Private Markets at ASI added, “Monroe has been at the forefront of generating consistent and attractive risk adjusted returns for its investors for almost twenty years. We believe their private credit investment products will have broad applicability across our platform. We are excited about gaining access to their products and look forward to working with the Monroe investment team.”
Monroe has experienced significant growth since its founding in 2004. Its middle-market private credit platform has risen to become one of the most prominent in the industry. As one of the largest dedicated senior secured private credit investors in the U.S., Monroe has invested over $20 billion in more than 1,400 companies to date. The Firm’s direct lending business has won numerous awards for its consistent performance over the last 17 years. Monroe’s private credit platform includes sector-focused strategies designed to seek opportunities and generate quality “alpha” returns for its investors across all market credit cycles, including healthcare, business services, technology, software and real estate.
In addition, Monroe has continued to broaden its presence across the public credit markets, with investment opportunities spanning collateralized loan obligations, leveraged loans, and other non-investment grade corporate credit securities.
Evercore acted as financial advisor and Fried Frank acted as legal counsel to Monroe.
About Monroe Capital
Monroe Capital LLC (“Monroe”) is a premier boutique asset management firm specializing in private credit markets across various strategies, including direct lending, asset-based lending, specialty finance, opportunistic and structured credit, and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe’s platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality “alpha” returns irrespective of business or economic cycles. The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Los Angeles, New York, and San Francisco.
Monroe has been recognized by both its peers and investors with various awards including Private Debt Investor as the 2020 Lower Mid-Market Lender of the Year, 2020 Lender of the Year, and 2020 CLO Manager of the Year, Americas; Creditflux as the 2020 Best U.S. Direct Lending Fund; Pension Bridge as the 2020 Private Credit Strategy of the Year; and Global M&A Network as the 2020 Small Middle Markets Lender of the Year. For more information, please visit www.monroecap.com.
About Bonaccord Capital Partners (“Bonaccord”)
Bonaccord Capital Partners (“Bonaccord”) focuses on making strategic minority investments in leading mid-sized alternative asset managers across private equity, private credit, real estate and real assets globally. Bonaccord is part of the private markets division of Aberdeen Standard Investments (“ASI’). Bonaccord’s minority investments support the creation of long-term strategic value for these leading managers enhanced by leveraging ASI’s substantial global capabilities and network across alternative asset management.
About Aberdeen Standard Investments (“ASI”)
ASI is a leading global asset manager with $562.90 billion in assets under management and 50 offices worldwide. Additionally, ASI has a differentiated and comprehensive perspective on the alternative investment landscape through its platform, managing approximately $34 billion in allocations to third party alternative asset managers across private equity, real assets, real estate and hedge fund strategies.