Monroe Capital has expanded into Australia and appointed a brand new director to steer the enterprise.
Galen Fu has been named director, enterprise improvement, and will probably be primarily based in Sydney. He will probably be accountable for consumer servicing and capital elevating throughout Australia.
Fu has greater than 14 years’ expertise in capital elevating, portfolio administration and banking within the Asia-Pacific area. Earlier than becoming a member of Monroe, he was a director within the capital markets group at Hines Funding Administration the place he was accountable for enterprise improvement and investor relations throughout Australia.
Learn extra: Monroe works with White Home to fund US automotive market
He has additionally held roles at Apollo subsidiary MaxCap Funding Administration, Westpac Financial institution, and ANZ Financial institution.
“We’re very excited so as to add Galen to the Monroe Capital group,” mentioned Alex Kim, head of Asia of Monroe Capital.
“Galen is a superb addition to deepen our efforts and exhibit Monroe Capital’s dedication to the Australian investor base and market. His expertise and relationships will improve our engagement with enterprise companions and traders inside the area.”
Learn extra: Monroe Capital sells majority stake to Wendel Group
The Australian market has been eyed by numerous personal credit score specialists not too long ago, who’ve additionally noticed the rising demand for options amongst Australian traders.
Personal market funding platform Moonfare launched an Australian enterprise earlier this week. And in October Barings launched its first Australian personal credit score fund, with greater than $230m (£117m) dedicated to this point.
“We now have a number of long-standing restricted companions in Australia and we stay up for our continued strategic development and enlargement in Australia,” mentioned Zia Uddin, president of Monroe Capital.
“In recent times, Australian traders have proven elevated curiosity and appreciation for the Monroe platform and the personal credit score asset class.
“We now have an amazing alternative to develop our footprint on this important market.”
Learn extra: Moonfare launches in Australia