Monroe Capital Caps Redemptions at 5% After 10% Request, Following Quarter of Full Redemptions
Monroe Capital Income Plus Corp. limited withdrawals to half of a 10% redemption request. The non-traded BDC has a five-year track record serving registered investment advisors and high-net-worth investors.
BenzingaMonroe Capital has capped redemptions at 5% for its Monroe Capital Income Plus Corp. fund after investors sought to redeem approximately 10% of shares. The fund allowed half of the requested redemptions, according to a filing seen by Bloomberg.
Is a non-traded business development company with a five-year track record. It is designed for registered investment advisors and high-net-worth investors.
U.S. And Canada, the firm's website states. In an April interview on Bloomberg TV, Monroe CEO Ted Koenig said: "We've generated great returns for institutional investors, but that's a buy-and-hold strategy; it's not a liquid strategy. When individual investors want to get out, they're like fish — they swim in schools.
Last quarter, the fund allowed all its investors to redeem their investments. Benzinga reported the current cap.
