Monroe Capital and Wendel Group have accomplished their strategic partnership, whereas AXA IM Prime has invested alongside Wendel to amass a minority stake in Monroe.
Below the phrases of the deal, Wendel has dedicated $1bn (£0.8bn) for seed capital and GP commitments for present and future Monroe funding methods and has acquired a 75 per cent stake in Monroe Capital.
In the meantime, AXA IM Prime, via its GP-stake technique, has invested alongside Wendel to take a minority stake in Monroe.
Wendel intends to make use of its important stability sheet to assist Monroe together with by funding progress initiatives and increasing Monroe’s non-public credit score platform.
Learn extra: Monroe plans US progress following Wendel acquisition
Monroe will proceed to function independently, sustaining its present management construction, funding course of, technique and operations. Funding advisory agreements between Monroe and its funds, together with its enterprise growth corporations, stay in place.
“We’re proud to finalise our partnership with Wendel and AXA IM Prime, a milestone achievement in our two-decade journey,” mentioned Theodore L. Koenig, chairman and chief govt of Monroe.
“Collectively, we’re wanting to collaborate and align our efforts to ship distinctive outcomes for our buyers and shoppers worldwide.”
Learn extra: Capitalising on disintermediation: AXA IM’s Christophe Fritsch
“We’re excited to take the following step in our partnership with Monroe’s gifted workforce and assist their subsequent section of progress and success,” mentioned Laurent Mignon, group chief govt of Wendel.
“We stay up for working collectively to ship long-lasting worth to our buyers whereas serving to to increase Monroe’s asset administration platform and enhancing their place available in the market.”
Goldman Sachs acted as unique monetary advisor to Monroe, and Fried, Frank, Harris, Shriver & Jacobson acted as authorized counsel to Monroe. UBS acted as unique monetary advisor to Wendel and Kirkland & Ellis acted as authorized counsel to Wendel.
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