Monroe Capital plots next fundraise

The Chicago firm is targeting $600 million, with a hard cap of $750 million, for its Monroe Capital Private Credit Fund II.

Chicago-based lender Monroe Capital is gearing up to launch its next credit fund, after rapidly investing its last $500 million senior secured debt fund, Monroe Capital Private Credit Fund I. The firm is targeting $600 million for the new fund, with a hard cap of $750 million, a source close to the situation told PDI.

The previous fund is already about 70 percent invested and was heavily oversubscribed, so the firm expects to raise money quickly for the Monroe Capital Private Credit Fund II. The original $500 million fund closed in December last year.

The new fund will employ the same strategy as its predecessor and focus on directly originated, senior secured debt for mid-market and lower mid-market companies throughout North America.

Monroe Capital handles $2.5 billion in capital across private funds and a public business development company. The firm is headquartered in Chicago, with additional office in New York, Los Angeles, San Francisco, Atlanta, Boston, Charlotte and Dallas.