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Monroe Capital Announces Strategic Minority Investment by Bonaccord Capital Partners/Aberdeen Standard Investments

March 03, 2021, 08:00 AM
Filed Under: Industry News

Monroe Capital 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.  

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