Monroe Capital Closes $6.1B Private Credit Fund, Marking Firm’s Largest Direct Lending Vehicle
Monroe Capital LLC announced the final close of its 2025 Monroe Capital Private Credit Fund V, bringing total investable capital tied to the strategy to $6.1 billion, including fund-level leverage and separately managed accounts (SMAs) pursuing the same mandate.
Fund V secured $2.8 billion in institutional limited partner commitments, supplemented by $1.5 billion of targeted leverage and $1.8 billion from SMAs expected to invest alongside the flagship fund. The raise marks Monroe’s largest private credit vehicle to date and extends its core institutional direct lending franchise, following Private Credit Fund IV, which closed in April 2022 with $4.8 billion of investable capital.
The fund will focus on providing senior secured financing to private equity–sponsored and non-sponsored U.S. lower middle-market companies, typically those with $35 million or less in EBITDA—a segment Monroe has long targeted for its defensive credit characteristics and attractive risk-adjusted returns.
“The successful close of Fund V reflects the continued confidence our global institutional investor base has in Monroe’s tenured direct lending platform, disciplined underwriting culture, and long-term performance across market cycles,” said Zia Uddin, president of Monroe Capital.
The investor base spans more than 90 institutions across 18 countries, including public and corporate pension plans, insurance companies, sovereign wealth funds, foundations, endowments, family offices, and other global allocators. As of December 31, 2025, Fund V had already committed over $3.2 billion across more than 130 borrowers, underscoring strong early deployment momentum.
Monroe manages approximately $23 billion in assets as of December 1, 2025, across a diversified private credit platform of more than 45 vehicles, including direct lending and alternative credit funds, venture debt, publicly traded and private BDCs, SMAs, and CLOs. Most recently, the firm closed a $730.7 million CLO backed by a diversified pool of lower middle-market and traditional middle-market senior secured loans.