IAM Private Debt Group, the private debt platform of Integrated Asset Management Corp (TSX: IAM) has raised $385 million in the first close of its fifth private corporate debt fund. Investors in the fund included new and repeat limited partners, some of which have been in every fund since Fund I. Fund V, which will make fixed-rate, fixed-term loans to mid-market businesses and projects in Canada, is expected to see its second and final close in early November. Including Fund V’s initial close, IAM Private Debt Group has raised over $2.1 billion in fund capital since 2004. Toronto-based IAM is an alternative assets manager.
Integrated Asset Management Corp. Announces $385 Million First Close for Integrated Private Debt Fund V LP
TORONTO, ONTARIO–(Marketwired – Oct. 16, 2015) – Integrated Asset Management Corp. (“IAM”) (TSX:IAM) and IAM Private Debt Group, its private corporate debt team, announce the first close of the fifth investment grade private corporate debt fund, with commitments of $385 million. The second and final close is expected on or around November 2, 2015.
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 $2.1 billion since Fund I closed in October, 2004.
Investors in the fund include first-time participants and repeat investors, some of whom have been in every fund since Fund I. All have been drawn to the attractive risk-adjusted results, well above comparable public market returns. The first four funds had a composite 10 year annualized rate of return of 7.59 % to September 30, 2015.
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. Our borrowers appreciate the fact that we often become a trusted advisor as well as a financing partner, working together to construct innovative, tailored financing solutions.”
John Robertson, President and CEO of IAM, said, “We are pleased by the enthusiastic support of our current investors and welcome our new investors.”
IAM is one of Canada’s leading alternative asset management companies, with approximately $2.1 billion in assets and committed capital under management in private corporate debt, real estate and managed futures.
President, IAM Private Debt Group
416 367 3972
President & CEO, Integrated Asset Management Corp.
416 367 2593
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