(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.
©2024 Bloomberg L.P.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.