Monroe Capital sold a passive minority equity stake to Bonaccord Capital Partners, a division of Aberdeen Standard Investments. Terms of the investment were not disclosed.
Bonaccord’s investment will provide Monroe with additional resources to pursue strategic initiatives. 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,” Ted Koenig, president and CEO of Monroe Capital, said.
“Monroe is a world-class investment firm that possesses remarkable depth and breadth of expertise across the private credit markets,” Ajay Chitkara, head of Bonaccord Capital Partners, said. “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.”
“Monroe has been at the forefront of generating consistent and attractive risk adjusted returns for its investors for almost 20 years,” Mark Redman, global head of private markets at ASI, said. “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.”
Evercore acted as financial advisor and Fried Frank acted as legal counsel to Monroe.
