The following is a summary of the Monroe Capital (MRCC) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Monroe Capital reported a modest decrease in adjusted net investment income to $6.6 million or $0.31 per share this quarter from $6.7 million last quarter.

• The company maintained its $0.25 per share dividend, which was covered 1.25 times by adjusted net investment.

• NAV per share decreased slightly from $9.20 to $9.18, attributed mainly to net unrealized losses on portfolio investments.

• Total investment portfolio decreased to $474.3 million due to several payoffs and investment sales.

• Debt-to-equity leverage decreased from 1.54 times to 1.50 times.

Business Progress:

• Monroe continued focusing on managing and supporting its investment portfolio through add-on opportunities and was highly selective in new deployments.

• Announced a strategic partnership with the Wendel Group, which will provide Monroe $1 billion of new seed capital to support existing and new investment strategies.

• A significant portion of new investments was in support of growth initiatives of existing borrowers.

Opportunities:

• The Wendel Group partnership is expected to bring in $1 billion seed capital boosting Monroe's growth and providing more capital for new and existing investment strategies.

Risks:

• Risks relate to market conditions affecting the portfolio companies, which have mostly been impacted by idiosyncratic factors as indicated by unrealized losses.

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