Deals
Wendel Buys Majority Stake in US Private Credit Manager Monroe
- Chicago-based Monroe Capital manages almost $20 billion
- Acquisition adds to string of deals for private credit firms
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French investment firm Wendel has agreed to acquire a majority stake in private lender Monroe Capital for $1.13 billion to extend its reach to the booming private credit category.
Wendel will buy a 75% stake in Monroe Capital and provide an additional $1 billion to grow Chicago-based firm’s business and seed new funds, according to a statement on Tuesday, confirming an earlier Bloomberg News report. The transaction also includes an earn-out mechanism of as much as $255 million. The deal is expected to close in the first half of next year.