Bennelong signs MOU with Monroe Capital to expand distribution
Bennelong Funds Management has signed a memorandum of understanding (MOU) and partnered with US-based private credit asset manager Monroe Capital to expand its distribution to Australia and New Zealand.
Monroe, which has $21.6bn in assets under management, specialises in diversified private credit solutions, with a focus on US lower middle market direct lending to institutional and high-net-worth investors.
Read more: Pollen Street agrees $100m credit facility with CredibleX
The firm will help Bennelong to scale its private credit offering to investors across Australia.
“Our alignment with Monroe Capital represents the third step in the process of moving Bennelong from a largely equities-based business to one that best caters for the evolving needs of investors,” said Gillian Larkins, chair of the Bennelong Funds Management board.
Read more: AlbaCore expands into infrastructure debt
“It is our strategic intent to augment our long-standing Australian capabilities by working with international specialists across all established asset classes.”
“As a top ten US non-bank lender in 2024, we believe Monroe Capital is a specialist international manager with the proven expertise and scale to offer a valuable private credit alternative to local investors,” added chief executive John Burke.
Read more: AB CarVal provides £500m facility to UK bridging lender TAB
