Bennelong Funds Management signs MOU and partners with US middle market private credit lender Monroe Capital

Mon, 15 Sep 2025 21:05:10 +0000

John Burke

Bennelong Funds Management has signed a memorandum of understanding (MOU) and partnered with US-based Monroe Capital to further expand its distribution to Australia and New Zealand.

Founded in 2004, Monroe Capital is a USD$21.6 billion asset manager specialising in diversified private credit solutions, with a focus on US lower middle market direct lending to institutional and high-net-worth investors.

The firm’s direct lending investment strategy is focused primarily on first lien and unitranche loans to companies diversified across multiple industries located throughout the US and Canada.

Gillian Larkins, Chair of the Bennelong Funds Management Ltd Board, said, “Our alignment with Monroe Capital represents the third step in the process of moving Bennelong from a largely equities-based business to one that best caters for the evolving needs of investors. It is our strategic intent to augment our long-standing Australian capabilities by working with international specialists across all established asset classes.”

CEO of Bennelong Funds Management, John Burke, said, “As a top ten US non-bank lender in 2024, we believe Monroe Capital is a specialist international manager with the proven expertise and scale to offer a valuable private credit alternative to local investors. We are excited to be working with the Monroe Capital team as we continue to service our excellent client base in meeting their evolving needs.”

Alex Kim, Managing Director & Head of APAC at Monroe Capital, commented, “The US middle market lending universe includes over 200,000 companies and is characterized by less competition, more covenants and higher spreads than other areas of direct lending. This fragmentation in the lower middle market, where Monroe Capital specializes, offers investors access to a segment of the market with the potential for higher returns and more downside protection.”

“Launching our private credit strategy via Bennelong’s Australian-domiciled fund marks a pivotal step in democratizing access to institutional-grade credit strategies,” said Zia Uddin, President of Monroe Capital. “We’re opening the door for qualifying investors to participate in a resilient asset class that has historically delivered stable income and downside protection.”

Monroe has over 300 employees, inclusive of an investment team of approximately 120 professionals focused on deal sourcing and underwriting. The firm is headquartered in Chicago and has 12 locations throughout the United States, Asia, Middle East and Australia.

Bennelong plans to launch a local registered vehicle in the coming months.

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Bennelong Funds Management launches Allspring Global Income Fund

Mon, 21 Jul 2025 21:15:20 +0000

John Burke

Bennelong Funds Management has launched the Allspring Global Income Fund, targeting Australian retail, wholesale and institutional investors.

The product launch follows the announcement in May that Bennelong has partnered with Allspring Global Investments (Allspring) to distribute its global income strategy across Australia and New Zealand.

Allspring is a leading asset manager with USD$600 billion of assets under management and advisement, managing over USD$460 billion in fixed income assets for a global client base.

The new fund is based on Allspring’s global income strategy and dynamically invests across global fixed income sectors including government, securitised, investment grade credit, high yield and emerging market debt markets.

The fund offers daily liquidity with an objective of outperforming the Bloomberg Global Aggregate Index and generating a total return consisting of a high level of current income (paid monthly) and capital appreciation.

John Burke, CEO of Bennelong, said “We believe this fund can be a core component of well diversified portfolios. Allspring’s global income strategy has delivered strong risk-adjusted returns for over ten years, and it’s exciting to bring a proven, well-diversified and dynamic product to our network of investors, advisers and institutions.”

Gillian Larkins, Chair of the Bennelong Funds Management Limited Board, said “our alignment with Allspring represents another important step in the process of moving Bennelong from a largely equities-based business to one that best caters for the evolving needs of investors across all asset classes.”

Andy Sowerby, head of the International Client Group at Allspring, said recent market volatility continues to highlight the importance of dynamic allocation.

“Our flexible, multi-sector approach is different from strategies with more static allocations and fewer exposures, and to strategies managed to three or five-year macroeconomic themes. The strategy has delivered competitive performance in periods of market stress, including over the challenging markets of 2025,” he added.

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Bennelong Funds Management signs MOU and partners with US middle market private credit lender Monroe Capital

Bennelong Funds Management has signed a memorandum of understanding (MOU) and partnered with US-based Monroe Capital to further expand its distribution to Australia and New Zealand.

Bennelong Funds Management launches Allspring Global Income Fund

Bennelong Funds Management has launched the Allspring Global Income Fund, targeting Australian retail, wholesale and institutional investors.