(Bloomberg) -- Wendel has agreed to acquire a majority stake in private lender Monroe Capital, which manages almost $20 billion, according to a person familiar with the matter.
The acquisition would extend Paris-based Wendel’s reach in private credit at a time when the lending category is booming. The agreement could be announced as soon as Tuesday, said the person, who asked not to be identified because the information is private.
Timing of the announcement and other details could still change, the person said. Representatives for Wendel and Monroe didn’t immediately respond to requests for comment.
Founded in 2004, Chicago-based Monroe provides private credit to borrowers in the US and Canada, according to its website.
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