Press Releases
Monroe Capital Closes $455 Million Collateralized Loan Obligation Transaction
Chicago, IL, May 11, 2021
Monroe Capital LLC (“Monroe”) today announced the closing of a $455 million term debt securitization known as Monroe Capital MML CLO XI, LTD. The term financing was Monroe’s sixth CLO completed since March 2018 and is secured by a portfolio of middle market senior secured loans.
Monroe sold securities rated from AAA through BB. Monroe and its affiliates retained a majority of the Subordinated Notes in the transaction. BNP Paribas served as the Lead Manager, Structuring Agent and Bookrunner. This transaction was structured to meet and comply with both the European risk retention guidelines as well as U.S. risk retention guidelines.
“We enjoyed working with BNP Paribas on this middle market CLO. Our middle market CLO portfolios have proven resilient during the recent market dislocation and we are working diligently to maintain credit quality through the entire Monroe platform. We were pleased to welcome new investors in this middle market CLO and we value our relationships with a growing group of repeat investors,” said Jeremy VanDerMeid, Portfolio Manager of Monroe. “We continue to see strong demand from investors around the world as our middle market CLOs offer investors a unique entry point to access the U.S. middle market.”
Monroe’s CLO platform has approximately $3.4 billion assets under management (“AUM”) with 11 middle market CLO vehicles and one broadly syndicated CLO under management. Monroe has a proven 14 year track record as both a middle market and broadly syndicated CLO manager with the same senior investment team and portfolio manager, having successfully navigated multiple credit cycles. Our ability to blend proprietary directly originated deal flow with the traditional middle market syndicated transactions continues to create a unique, diversified portfolio for CLO investors. In addition, Private Debt Investor recently recognized Monroe as the 2020 CLO Manager of the Year Award. The firm has approximately $9.7 billion AUM and a diversified private credit platform of 25+ vehicles comprised of direct lending and opportunistic credit funds, a publicly traded and private BDCs, separately managed accounts, and CLOs.
About Monroe Capital
Monroe Capital LLC (“Monroe”) is a premier boutique asset management firm specializing in private credit markets across various strategies, including direct lending, asset-based lending, specialty finance, opportunistic and structured credit, and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe’s platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality “alpha” returns irrespective of business or economic cycles. The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Los Angeles, New York, and San Francisco.
Monroe has been recognized by both its peers and investors with various awards including Private Debt Investor as the 2020 Lower Mid-Market Lender of the Year, 2020 Lender of the Year, and 2020 CLO Manager of the Year, Americas; Creditflux as the 2020 Best U.S. Direct Lending Fund; Pension Bridge as the 2020 Private Credit Strategy of the Year; and Global M&A Network as the 2020 Small Middle Markets Lender of the Year. For more information, please visit www.monroecap.com.