Canadian alternative asset manager Ninepoint Partners has launched a new fund focused on the U.S. mid-market private debt space.
Ninepoint has engaged Monroe Capital LLC, a U.S. private credit asset management firm, as an advisor.
Ninepoint Monroe U.S. Private Debt Fund, designed for institutional and wealthy investors and their advisors, will back a vehicle that invests in secured debt positions with U.S. companies with annual revenue of $10 million to $1 billion.
The fund’s target size was not disclosed.
Ninepoint broadens alternatives offerings to include the massive U.S. middle-market private debt space
TORONTO, April 10, 2019 (GLOBE NEWSWIRE) — Ninepoint Partners (Ninepoint), one of Canada’s alternatives asset managers, is pleased to announce the launch of the Ninepoint Monroe U.S. Private Debt Fund (The Fund). Ninepoint has engaged the Chicago-based private credit asset management firm Monroe Capital LLC (Monroe), specializing in U.S. direct lending and opportunistic private credit investments, as an advisor.
The partnership makes Ninepoint among the first in Canada to bring access and exposure to private credit investment products in the $9.3 USD trillion middle-market with one of the top U.S. private debt managers, as named by Preqin, focused on the middle-market private debt space.
Designed for institutional, high-net-worth investors and their advisors, the Fund will focus on providing attractive risk-adjusted returns by investing in a vehicle which invests in secured debt positions with U.S. companies that operate in the middle market – firms with annual revenues of between $10 million and $1 billion that have a solid track record and strong growth prospects.
Monroe has directly originated over $7 billion of senior secured loan transactions since 2004, which has allowed companies to make acquisitions, improve working capital, invest in property and equipment, and fund private equity M&A activity. Monroe’s “credit first – zero loss” mentality has resulted in consistent yield and low default rates since inception.
“We are excited to collaborate with a firm held in such high regard as Monroe, and give Canadian investors access to their investment strategy,” said James Fox, Co-CEO of Ninepoint Partners. “We look forward to providing our clients with exposure to this asset class with one of the leaders in the U.S. middle market private debt space.” added Ramesh Kashyap, Managing Director & Group Head, Alternative Income Group of Ninepoint Partners.
“We are pleased to partner with Ninepoint, a like-minded investment firm, in the Canadian market,” says Monroe President and CEO Theodore L. Koenig. “We look forward to bringing our middle-market private credit strategy to a new investor base in Canada.”
About Ninepoint Partners
Based in Toronto, Ninepoint Partners LP is one of Canada’s alternative investment management firms overseeing approximately $2.5 billion in assets under management. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including Diversified Core, Alternative Income, and Real Assets.
For more information on Ninepoint Partners, please visit www.ninepoint.com, or please contact us at (416) 299-9906 or (866) 299-9906 or [email protected]
About Monroe Capital
Monroe Capital is a private credit asset management firm specializing in direct lending and opportunistic private credit investing. Since 2004, the firm has provided private credit solutions to borrowers in the U.S. and Canada. Monroe’s middle market lending platform provides debt financing to businesses, special situation borrowers, and private equity sponsors. Investment types include cash flow, enterprise value and asset-based loans; unitranche financings; and equity co-investments. Monroe is committed to being a value-added and user-friendly partner to business owners, senior management, and private equity and independent sponsors. The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Los Angeles, New York, and San Francisco. For more information, please visit www.monroecap.com.
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