Monroe jump starts special sits strategy with new hire

Cesar Gueikian joins the firm to lead the new strategy and manage its opportunistic credit fund.

Monroe Capital has hired a managing director and co-portfolio manager to lead its new special situations strategy and credit fund, the firm said on Thursday.

Cesar Gueikian, most recently an executive at Melody Capital Partners, will oversee the firm’s new opportunistic strategy, including the Monroe Capital Special Situations Fund. The vehicle will originate senior debt and target secondary investments, according to a statement. 

Prior to Monroe, Gueikian was founder and managing partner at Melody, the statement showed. He had previously served as the global head of the special situations group at UBS, overseeing all structured and private lending.

Before UBS, he managed the Illiquid Credit Trading for North America group at Merrill Lynch and started his career at Deutsche Bank, where he focused on credit analysis, corporate valuation and capital structuring.

He will work mostly from the firm’s New York and Miami offices, a source familiar with the matter told Private Debt Investor.

The Special Situations Fund will target healthy companies with good collateral, not necessarily troubled businesses, and deals that are opportunistic because of speed, complexity or perceived risk, this person said. The fund will focus primarily on North America.

Monroe declined to comment about fundraising for the strategy.

The new special situations platform builds upon the Chicago-based asset manager’s other debt funds, like the Private Credit Fund II, which also targets opportunistic credit. The PCF II, which is currently investing in senior, unitranche and opportunistic debt, held a close in October on $800 million in equity commitments, with a total of $1.5 billion in deployable capital including leverage. Monroe had invested $903 million from the fund as of May.

Monroe is a Chicago-based mid-market lending firm that invests in deals both with and without a private equity sponsor. It also manages collateralised loan obligations and a business development company, Monroe Capital Corporation.