Monroe Capital LLC has closed its third private credit fund at $1.33 billion, beating its $800 million target. The 2018 Monroe Private Credit Fund III will invest in private credit transactions originated and underwritten by Monroe. The fund’s investors include public and private pension plans, insurance companies, universities, endowments, foundations, religious organizations, hospitals, non-profits, sovereign wealth funds and family offices.
Chicago, IL, November 27, 2018 – Monroe Capital LLC (“Monroe”) today announced the final close of its 2018 Monroe Capital Private Credit Fund III (“Fund”) at $1.33 billion of limited partner commitments with over 100 investors in eight countries, eclipsing the Fund target of $800 million. When combined with target Fund leverage, the Fund will have more than $2.5 billion of buying power or capital available for investment.
The Fund will invest in private credit transactions originated and underwritten by Monroe. The investment strategy is focused primarily on senior secured loans and unitranche loans to private equity sponsored, independent sponsored, and non-sponsored middle market companies located throughout the U.S and Canada. 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 private pension plans, insurance companies, universities, endowments, foundations, religious organizations, hospitals, non-profits, sovereign wealth funds, family offices and other institutional investors. In addition to the limited partner commitments, the Fund has secured term credit facilities to complement its available capital.
According to Ted Koenig, President and CEO of Monroe, “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. We are pleased and proud that 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. This is a testament to our organization and our people.”
Monroe was founded in 2004 and has been a consistent and reliable provider of transactional debt financing both pre and post credit crisis for private equity sponsored and non-sponsored deals. The firm has over 100 employees, inclusive of an investment team of approximately 55 professionals with an average of 16 years of credit, private equity, and investment experience. Monroe has a national transaction sourcing network of seven offices located throughout the U.S. and a proven investment discipline and strategy that has been tested over multiple economic cycles.
About Monroe Capital
Monroe Capital LLC (“Monroe”) 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, Dallas, Los Angeles, New York, and San Francisco.
Monroe has been recognized by Creditflux as the 2018 Best US Direct Lending Fund, Private Debt Investor as the 2017 Lower Mid-Market Lender of the Year; Global M&A Network as the 2017 Small Middle Markets Lender of the Year; M&A Advisor as the 2016 Lender Firm of the Year; and the U.S. Small Business Administration as the 2015 Small Business Investment Company (SBIC) of the Year. For more information, please visit www.monroecap.com.