New York Life’s Chanda joins Monroe Capital

Monroe Capital hired Sweta Chanda as managing director and head of business strategy.

Chanda will be working out of the firm’s New York office and will be responsible for firmwide strategy, product and corporate development and new initiatives to expand Monroe Capital’s global footprint.

She had been a director at New York Life Investment Management within the strategy and M&A team responsible for heading up the alternative investment strategy. She helped to launch a European opportunistic credit fund, European CLO platform, a GP stakes fund and a social impact fund during her tenure.

Sweta Chanda (provided)

Prior to New York Life, she was a vice president at Blackstone where she led efforts related to cross-platform mandate within the firm’s Hedge Fund Solutions platform.

“Sweta has an accomplished career of over 18 years of experience in alternative investments focusing on business strategy,” said Ted Koenig, president and CEO of Monroe Capital.

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Going forward, Koenig said, the team is looking to find new and attractive adjacencies in direct lending.

Earlier this year, Monroe sold a passive minority equity stake to Bonaccord Capital Partners, a division of Aberdeen Standard Investments.

Historically the $10 billion-plus firm has been focused on the U.S. lower middle market, targeting companies with $35 million or less of EBITDA across a variety of sectors including healthcare, real estate, fintech and litigation finance.

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