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Monroe Capital Corporation (Nasdaq: MRCC) is a publicly-traded specialty finance company dedicated to providing customized financing solutions to lower middle-market companies in the U.S. and Canada. The company principally invests in senior, unitranche, and junior secured debt, and also engages in unsecured debt and equity investments, including co-investments in preferred and common stock and warrants.
MRCC's investment objective is to maximize total return for its stockholders through current income and capital appreciation. The company's investment activities are managed by Monroe Capital BDC Advisors, LLC, an affiliate of Monroe Capital LLC, and an investment adviser registered under the Investment Advisers Act of 1940.
Monroe Capital Corporation prides itself on being a value-added, user-friendly partner to business owners, management teams, and both private equity and independent sponsors. The company focuses on generating high-quality “alpha” returns across various business cycles through a diverse platform of investment products designed for institutional and high net worth investors.
In recent times, MRCC has demonstrated its financial resilience and commitment to delivering value to its shareholders. Despite the challenges posed by macroeconomic factors, MRCC has consistently covered its dividends through adjusted net investment income for several consecutive quarters. The company's diversified portfolio includes debt and equity investments in 98 companies, with first lien loans making up a significant portion.
For the quarter ended March 31, 2024, MRCC reported adjusted net investment income of $5.5 million, or $0.25 per share. The company’s net asset value (NAV) was $201.5 million, or $9.30 per share. The portfolio's weighted average yield was 11.9%, with a focus on credit quality and selective redeployment of capital resulting from repayments.
Monroe Capital LLC, the parent company, is an award-winning asset management firm recognized for excellence in private credit markets. Monroe's expertise spans direct lending, technology finance, venture debt, opportunistic and structured credit, real estate, and equity. The firm operates ten offices across the United States and Asia, offering a broad range of investment products to generate robust returns.
For more information, visit www.monroebdc.com.
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