Monroe Capital Income Plus Corporation Surveillance Report
Company Profile
Founded in January 2019 as a Business Development Company (“BDC”) incorporated in Maryland, Monroe Capital Income Plus Corporation (“MCIP” or “the company”) is a non-traded perpetual-life, continuously offered BDC headquartered in Chicago, IL. MCIP provides capital primarily through senior secured first lien loans to lower-middle-market (“LMM”) companies in the United States. MCIP has elected to be treated, and intends to qualify annually, as a regulated investment company (“RIC”) for federal tax purposes.
MCIP is externally managed by Monroe Capital BDC Advisors, LLC, an affiliate of Monroe Capital LLC (“Monroe Capital”), a private credit asset manager.
As a continuously offered BDC with no planned liquidity event, MCIP raises capital on an on-going basis and provides shareholder liquidity through quarterly tenders of up to 5% of outstanding shares.
Key Credit Considerations
The ratings are supported by MCIP’s ties to the $23.8…
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