Washington State Investment Board commits $150m to Monarch Capital Partners VI

The Washington State Investment Board (WSIB) has approved a $150 million commitment to Monarch Capital Partners VI, managed by Monarch Alternative Capital.

Monarch is a dedicated investment manager that focuses on distressed situations and opportunistic credit investing. The firm has raised five vintages of diversified closed-end funds. MCP VI is expected to pursue similar investment strategies to the previous five funds.

The firm focuses on senior capital structure investments that are event-driven with an opportunity to be active in a restructuring process, according to a recent WSIB investment report. Monarch follows a diversified approach to invest across various market segments, industries and geographies. Historically, The firm has invested in corporate debt, government debt, structured credit, real estate and special situations, primarily in the United States and Europe.

The WSIB previously committed $200 million to Monarch Capital Partners Fund V in 2020