v3.26.1
Fair Value Measurements - Schedule of Valuation Techniques and Significant Unobservable Inputs used in Recurring Level 3 Fair Value Measurements of Assets and Liabilities (Details)
$ in Thousands
Mar. 31, 2026
USD ($)
Dec. 31, 2025
USD ($)
Fair Value Measurements    
Fair value $ 211,559 [1],[2] $ 191,033 [3],[4],[5],[6],[7]
Senior secured loans    
Fair Value Measurements    
Fair value 199,088 180,094
Equity investments    
Fair Value Measurements    
Fair value 12,471 10,939
Level 3    
Fair Value Measurements    
Fair value 211,559 191,033
Level 3 | Total Level 3 Assets    
Fair Value Measurements    
Fair value 211,559 191,033
Level 3 | Senior secured loans    
Fair Value Measurements    
Fair value 199,088 180,094
Level 3 | Senior secured loans | EBITDA multiples | Discounted cash flow    
Fair Value Measurements    
Fair value $ 105,433 $ 93,187
Level 3 | Senior secured loans | EBITDA multiples | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 0.118 0.112
Level 3 | Senior secured loans | EBITDA multiples | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input 0.073 0.068
Level 3 | Senior secured loans | EBITDA multiples | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input 0.265 0.196
Level 3 | Senior secured loans | EBITDA multiples | Enterprise value    
Fair Value Measurements    
Fair value $ 2,398 $ 2,404
Level 3 | Senior secured loans | EBITDA multiples | Enterprise value | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 0.083 0.078
Level 3 | Senior secured loans | EBITDA multiples | Enterprise value | Minimum    
Fair Value Measurements    
Investments, measurement input 0.083 0.078
Level 3 | Senior secured loans | EBITDA multiples | Enterprise value | Maximum    
Fair Value Measurements    
Investments, measurement input 0.083 0.078
Level 3 | Senior secured loans | EBITDA Market Yields | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 0.094 0.094
Level 3 | Senior secured loans | EBITDA Market Yields | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input 0.076 0.075
Level 3 | Senior secured loans | EBITDA Market Yields | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input 0.139 0.130
Level 3 | Senior secured loans | Revenue Market Yields | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 0.096 0.096
Level 3 | Senior secured loans | Revenue Market Yields | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input 0.086 0.075
Level 3 | Senior secured loans | Revenue Market Yields | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input 0.129 0.128
Level 3 | Senior secured loans | Revenue multiples | Discounted cash flow    
Fair Value Measurements    
Fair value $ 91,257 $ 84,503
Level 3 | Senior secured loans | Revenue multiples | Discounted cash flow | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 0.063 0.068
Level 3 | Senior secured loans | Revenue multiples | Discounted cash flow | Minimum    
Fair Value Measurements    
Investments, measurement input 0.042 0.044
Level 3 | Senior secured loans | Revenue multiples | Discounted cash flow | Maximum    
Fair Value Measurements    
Investments, measurement input 0.13 0.145
Level 3 | Equity investments    
Fair Value Measurements    
Fair value $ 12,471 $ 10,939
Level 3 | Equity investments | EBITDA multiples | Enterprise value    
Fair Value Measurements    
Fair value $ 9,759 $ 8,308
Level 3 | Equity investments | EBITDA multiples | Enterprise value | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 0.099 0.09
Level 3 | Equity investments | EBITDA multiples | Enterprise value | Minimum    
Fair Value Measurements    
Investments, measurement input 0.078 0.073
Level 3 | Equity investments | EBITDA multiples | Enterprise value | Maximum    
Fair Value Measurements    
Investments, measurement input 0.155 0.105
Level 3 | Equity investments | Revenue multiples | Enterprise value    
Fair Value Measurements    
Fair value $ 2,446 $ 2,356
Level 3 | Equity investments | Revenue multiples | Enterprise value | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 0.063 0.063
Level 3 | Equity investments | Revenue multiples | Enterprise value | Minimum    
Fair Value Measurements    
Investments, measurement input 0.045 0.05
Level 3 | Equity investments | Revenue multiples | Enterprise value | Maximum    
Fair Value Measurements    
Investments, measurement input 0.078 0.083
Level 3 | Equity investments | Volatility | Option pricing model    
Fair Value Measurements    
Fair value $ 266 $ 275
Level 3 | Equity investments | Volatility | Option pricing model | Weighted Average Mean    
Fair Value Measurements    
Investments, measurement input 0.650 0.700
Level 3 | Equity investments | Volatility | Option pricing model | Minimum    
Fair Value Measurements    
Investments, measurement input 0.650 0.700
Level 3 | Equity investments | Volatility | Option pricing model | Maximum    
Fair Value Measurements    
Investments, measurement input 0.650 0.700
[1] All of Monroe Capital Enhanced Corporate Lending Fund’s (together with its consolidated wholly-owned subsidiaries, the “Fund”) investments are issued by eligible portfolio companies, as defined in the Investment Company Act of 1940, as amended, (the “1940 Act”), unless otherwise noted. All of the Fund’s investments are issued by U.S. portfolio companies unless otherwise noted. As of March 31, 2026 all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Fund owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.
[2] Except as otherwise noted, because there is no readily available market value for these investments, the fair value of each of these investments is determined in good faith using significant unobservable inputs by the Valuation Designee (as defined in Note 4 in the accompanying notes to the consolidated financial statements). See Note 4 in the accompanying notes to the consolidated financial statements for more information regarding the fair value of the Fund’s investments.
[3] All of the Fund's investments are issued by eligible portfolio companies, as defined in the 1940 Act unless otherwise noted. All of the Fund’s investments are issued by U.S. portfolio companies unless otherwise noted. As of December 31, 2025 all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Fund owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.
[4] Except as otherwise noted, because there is no readily available market value for these investments, the fair value of each of these investments is determined in good faith using significant unobservable inputs by the Valuation Designee (as defined in Note 4 in the accompanying notes to the consolidated financial statements). See Note 4 in the accompanying notes to the consolidated financial statements for more information regarding the fair value of the Fund’s investments.
[5] Investments without an interest rate are non-income producing.
[6] Ownership of certain equity investments may occur through a holding company or partnership.
[7] Represents less than 5% ownership of the portfolio company’s voting securities.