Investors sought to redeem 8.9% of outstanding shares in the non-traded BDC Monroe Capital Income Plus Corp.
Repurchase requests in the $4.3 billion private debt fund have now fallen for two consecutive quarters, more than halving from 8.5% in Q1 to 3.8% in Q3.
Shareholders submitted an estimated $4.3 billion of Q3 repurchase requests, representing around 10% of shares outstanding, as of June.
The firm also provided updates on its private equity evergreen fund and non-traded BDC, as well as plans to launch new products targeting the wealth segment.
GCRED will accept all of the 4.8% in withdrawal requests received at its June 30 NAV, down from 8.5% in the prior quarter.
The non-traded BDC accepted all valid tenders, representing about 3.6% of outstanding shares as of June, with payment to be made through State Street-held promissory notes.
Cox Capital currently has outstanding cash offers for five private debt vehicles, with discounts to NAV ranging from 14% to 37%.
The Philadelphia-based investment manager has expanded its recurring liquidity program to now include five non-traded BDCs.
The unsolicited bid priced shares at 85% of NAV, the smallest discount of the three Cox offers targeting BDCs managed by Ares, BlackRock, and Apollo.
We dive into MCIP, outlining the investment strategy, portfolio composition, and other details of Monroe Capital's non-traded BDC.
