KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
Wendel SE, a Paris-based investment firm, has agreed to acquire a majority stake in Monroe Capital, a Chicago-based private credit manager that handles nearly $20 billion in assets, according to sources familiar with the matter.
The deal includes an additional $1 billion capital commitment to expand Monroe’s business and seed new funds, furthering Wendel’s presence in the booming private credit sector. The acquisition is part of a growing trend where firms like Apollo Global Management, Blackstone, and Ares Management are pursuing similar expansions.
Monroe Capital, founded in 2004 by Theodore Koenig, specializes in providing private credit to borrowers across the US and Canada. The firm’s sale follows a wave of recent private credit deals, including TPG’s $2.7 billion purchase of Angelo Gordon and BlackRock’s acquisition of Global Infrastructure Partners for $12.5 billion.
The official announcement of Wendel's acquisition could be made as early as Tuesday, though details are subject to change. Neither Wendel nor Monroe has responded to requests for comment.
This acquisition highlights the ongoing consolidation in the private credit market, with several firms, including Apollo and Citigroup, teaming up for multi-billion dollar private credit partnerships.
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