Bonaccord takes minority stake in Monroe Capital
Bonaccord Capital Partners purchased a passive minority stake in private credit manager Monroe Capital.
Terms of the deal were not disclosed in a news release Wednesday. The investment by Bonaccord, a division of Aberdeen Standard Investments, is non-voting and will have no impact on Monroe Capital's day-to-day operations or management, the news release said.
The stake will provide Chicago-based Monroe Capital with "additional resources to pursue strategic initiatives," the release said.
Bonaccord focuses on strategic minority investments in midsize alternative money managers.
Monroe Capital has about $10 billion in assets under management.
A spokeswoman for Monroe Capital could not be immediately reached for further information.