Monroe Capital has closed a new term debt securitization fund, Monroe Capital MML CLO XIII LTD, with $457 million of capital.
The term financing was the eighth new issue collateralized loan obligation (CLO) completed by Monroe since 2018 and is secured by a portfolio of middle-market senior secured loans. Monroe’s CLO platform now has over $4.1 billion of assets under management with 13 middle-market CLO vehicles. Deutsche Bank was the Lead Manager, Structuring Agent and Bookrunner on this transaction with Raymond James serving as Co-manager.
“This was a nice execution in a challenging market, and we were pleased to work with our partners Deutsche Bank and Raymond James. We were able to expand our investor base across the capital stack and work with a diverse group of new and existing investors,” said Jeremy VanDerMeid, a portfolio manager at Monroe. “Our middle market CLO platform continues to offer investors around the world a unique avenue to invest in United States middle-market loans.”
Monroe Capital (NASDAQ: MRCC) provides senior and junior debt financing to middle-market businesses, special situation borrowers and private equity sponsors. Investment types include unitranche financings; cash flow, asset-based and enterprise value-based loans; and equity co-investments.
The firm has $12.7 billion of assets under management across a range of strategies – including direct lending and opportunistic credit funds, public and private business development companies (BDCs), separately managed accounts, and CLOs. Monroe was founded in 2004 and is headquartered in Chicago with additional offices in Atlanta, Boston, Los Angeles, Naples, New York, San Francisco and Seoul.
© 2022 Private Equity Professional | March 29, 2022
