TSL Express Daily News

CHICAGO--(BUSINESS WIRE)--Bennelong Funds Management has signed a memorandum of understanding (MOU) and partnered with US-based Monroe Capital to further expand its distribution to Australia and New Zealand.

Founded in 2004, Monroe Capital is a USD$21.6 billion asset manager specializing in diversified private credit solutions, with a focus on US lower middle market direct lending to institutional and high-net-worth investors.

The firm’s direct lending investment strategy is focused primarily on first lien and unitranche loans to companies diversified across multiple industries located throughout the US and Canada.

Gillian Larkins, Chair of the Bennelong Funds Management Ltd Board, said, “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. It is our strategic intent to augment our long-standing Australian capabilities by working with international specialists across all established asset classes.”

CEO of Bennelong Funds Management, John Burke, said, “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. We are excited to be working with the Monroe Capital team as we continue to service our excellent client base in meeting their evolving needs.”

Alex Kim, Managing Director & Head of APAC at Monroe Capital, commented, “The US middle market lending universe includes over 200,000 companies and is characterized by less competition, more covenants and higher spreads than other areas of direct lending. This fragmentation in the lower middle market, where Monroe Capital specializes, offers investors access to a segment of the market with the potential for higher returns and more downside protection.”

"Launching our private credit strategy via Bennelong’s Australian-domiciled fund marks a pivotal step in democratizing access to institutional-grade credit strategies,” said Zia Uddin, President of Monroe Capital. “We're opening the door for qualifying investors to participate in a resilient asset class that has historically delivered stable income and downside protection."

Monroe has over 300 employees, inclusive of an investment team of approximately 120 professionals focused on deal sourcing and underwriting. The firm is headquartered in Chicago and has 12 locations throughout the United States, Asia, Middle East and Australia.

Bennelong plans to launch a local registered vehicle in the coming months.

About Monroe Capital
Monroe Capital LLC (“Monroe”) is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, alternative credit solutions, structured credit, real estate and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe’s platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality “alpha” returns irrespective of business or economic cycles. The firm is headquartered in Chicago and has 12 locations throughout the United States, Middle East, Asia and Australia.

Monroe has been recognized by both its peers and investors with various awards including DealCatalyst as the 2025 Most Innovative Private Credit CLO Manager of the Year; Private Debt Investor as the 2024 Lower Mid-Market Lender of the Year, Americas and 2023 Lower Mid-Market Lender of the Decade; Inc.’s 2024 Founder-Friendly Investors List; Global M&A Network as the 2024 Lower Mid-Markets Lender of the Year, Americas; Korean Economic Daily as the 2022 Best Performance in Private Debt – Mid Cap; Creditflux as the 2021 Best U.S. Direct Lending Fund; and Pension Bridge as the 2020 Private Credit Strategy of the Year. For more information and important disclaimers, please visit www.monroecap.com.