Monroe Capital has closed the Monroe Capital Senior Secured Direct Loan Fund, a USD500m leveraged loan fund that will invest in senior debt transactions originated and underwritten by Monroe Capital.
The fund was closed above its USD400m target. Loan types include senior secured, cash flow and enterprise value based senior and stretch senior, unitranche, second lien and last-out term loans to both private equity sponsored and non-sponsored middle market companies across a wide range of industries.
The fund represents an expansion of Monroe Capital's asset management platform and further extends the firm's ability to serve its middle market and lower middle market client base. The fund received commitments from over 30 institutional investors in the US and Europe, including pension plans, insurance companies, endowments, foundations and wealth management firms. In addition to the limited partner commitments, the fund has secured a significant term warehouse credit facility to complement its available capital.
Ted Koenig, president and CEO of Monroe, says: "The successful close of this fund, substantially over target, represents a strong endorsement of Monroe Capital's expertise in the middle market and our track record as one of the leading asset managers in our space. We very much appreciate the confidence and support of our new limited partners and welcome them to the Monroe family of funds."
