Monroe Capital launches Australian office with new hire
Monroe Capital has expanded into Australia and appointed a new director to lead the business.
Galen Fu has been named director, business development, and will be based in Sydney. He will be responsible for client servicing and capital raising across Australia.
Fu has more than 14 years’ experience in capital raising, portfolio management and banking in the Asia-Pacific region. Before joining Monroe, he was a director in the capital markets team at Hines Investment Management where he was responsible for business development and investor relations across Australia.
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He has also held roles at Apollo subsidiary MaxCap Investment Management, Westpac Bank, and ANZ Bank.
“We are very excited to add Galen to the Monroe Capital team,” said Alex Kim, head of Asia of Monroe Capital.
“Galen is a great addition to deepen our efforts and demonstrate Monroe Capital’s commitment to the Australian investor base and market. His experience and relationships will enhance our engagement with business partners and investors within the region.”
Read more: Monroe Capital sells majority stake to Wendel Group
The Australian market has been eyed by a number of private credit specialists recently, who have also spotted the growing demand for alternatives among Australian investors.
Private market investment platform Moonfare launched an Australian business earlier this week. And in October Barings launched its first Australian private credit fund, with more than $230m (£117m) committed to date.
“We have several long-standing limited partners in Australia and we look forward to our continued strategic growth and expansion in Australia,” said Zia Uddin, president of Monroe Capital.
“In recent years, Australian investors have shown increased interest and appreciation for the Monroe platform and the private credit asset class.
“We have a tremendous opportunity to expand our footprint in this significant market.”
Read more: Moonfare launches in Australia
