IAM Private Debt Group, an affiliate of Integrated Asset Management Corp (TSX: IAM), has wrapped up fundraising for its fifth private corporate debt fund. Fund V, which raised an initial $385 million in October, secured $672 million of committed capital in a final close. It is the largest fund yet raised by IAM Private Debt Group, which has accounted for over $2.4 billion since 2004. Fund V will show continuity with past funds, making fixed rate, fixed term loans to mid-market opportunities in Canada. Typical uses of the capital include refinancings, acquisitions, plant modernization or expansion, management buyouts and project financing.
Integrated Asset Management Corp. Announces Total Commitments of $672 Million for Integrated Private Debt Fund V LP on Final Close
TORONTO, ONTARIO–(Marketwired – Nov. 3, 2015) – Integrated Asset Management Corp. (“IAM”) (TSX:IAM) and IAM Private Debt Group, its private corporate debt team, announce the second and final close of the fifth investment grade private corporate debt fund, bringing total commitments to $672 million.
The IAM Private Debt Group is Canada’s leading independent manager of private debt funds. Fund V is the fifth investment grade senior secured private placement debt fund and brings the total capital raised by the group for private debt investments in the Canadian mid-market to over $2.4 billion since Fund I closed in October, 2004.
Investors in the fund include first-time participants and repeat investors. All have been drawn to the attractive risk-adjusted results; the fund composite has outperformed its public market benchmark in every one of the last 10 years.
Philip Robson, President of IAM Private Debt Group, said “Our investors continue to be drawn to the combination of enhanced yield, monthly distributions, diversification and reduced volatility. The funds make fixed rate, fixed term loans to mid-market businesses and projects across Canada. Typical uses of funds include refinancing existing debt, acquisitions, plant modernization or expansion, management buyouts and project financing.
“Since we launched our first fund more than 10 years ago, we have seen many new entrants into this arena and increased participation by investors. However, we remain unique in our combination of direct lending, direct origination and focus on the investment grade mid-market with a superior long-term performance history.”
John Robertson, President and CEO of IAM, said “Fund V is the largest fund yet raised by IAM. It clearly demonstrates the trust and confidence investors have in the debt team. Closing of the fund increases IAM’s AUM by 40% to approximately $2.4 billion.
“This is a significant step forward in executing our plan to focus on niche strategies for our institutional clients. Combining this with growth in our real estate group and the addition of infrastructure debt and equity offerings next year will leverage the skills of our team and provide our clients with premium returns relative to comparable public market strategies.
“For our shareholders, this represents the potential for significant revenue growth in our business when these committed funds are deployed and become revenue generating AUM.”
IAM is one of Canada’s leading alternative asset management companies, with approximately $2.4 billion in assets and committed capital under management in private corporate debt, real estate and managed futures.
IAM Private Debt Group
416 367 3972
Integrated Asset Management Corp.
President & CEO
416 367 2593
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