Monroe Capital raises $1.33bn

The Chicago-based firm held a final close of its third private credit fund.

Monroe Capital held a final close of Monroe Capital Private Credit Fund III at $1.33 billion, according to a press release from the firm’s website. The fund surpasses its target size of $800 million, which was the size of its predecessor fund, Monroe Capital Private Credit Fund II, when it closed in October 2016.

The fund will invest in senior debt within middle market companies throughout the United States and Canada. Investors include universities, hospitals, pension plans and religious organisations.

The fund, when combined with its target leverage, will have more than $2.5 billion of capital available for investment.