MONEY MASTER

  Wendel , a French investment firm, has agreed to acquire a 75% stake in Monroe Capital , a US-based private credit manager, for US$1.13 billion . The deal, which includes an additional US$1 billion to grow Monroe’s business and seed new funds, is part of Wendel’s strategy to expand into the lucrative private credit sector. The transaction also includes an earn-out mechanism worth up to US$255 million and is expected to close in the first half of 2025 . Founded in 2004, Monroe Capital manages US$19.5 billion in private credit across the US and Canada . The acquisition will enhance Wendel’s exposure to the US market , which CEO Laurent Mignon sees as more dynamic than Europe’s economy. Wendel's acquisition aligns with its broader strategy to diversify into private markets and asset management. Monroe Capital is expected to serve as a base for Wendel’s private credit operations in Europe , a market less developed than the US. The deal follows Wendel’s majority stake acquisitio...

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 detail...