Metropolitan Partners Group Management closed its sixth direct lending fund on $240 million. Fund VI focuses on U.S. non-sponsored companies in the lower middle market with revenues under $100 million. Metropolitan’s Fund V, which closed in 2018, is fully deployed after 18 investments of about $170 million to date.
Metropolitan Partners Group Management, LLC (“Metropolitan”), a direct-lending fund manager that provides senior-secured, short-term capital to small and mid-sized businesses in the U.S., announced today that it completed the final closing of its sixth and largest direct lending fund—Metropolitan Partners Fund VI, LP (“Fund VI”)—in the first quarter of 2020, with total fund commitments of $240 million.
Fund VI continues Metropolitan’s strategy of investing in U.S. non-sponsored companies in the lower middle market with revenues under $100 million that have not yet received institutional investor capital and require additional capital in order to achieve scale in their fundamental growth or emerge from a special situation.
“We are very pleased with the success of Fund VI and the inherent support it represents of our investment approach and process, our team and our institutional infrastructure,” said Paul Lisiak, Metropolitan’s Managing Partner and Chief Investment Officer. “The strong interest expressed by investors to participate in Fund VI underscores the available opportunity set we are accessing in the non-sponsored, lower middle market. Borrowers continue to be underserviced and are looking for a stable capital partner that will help them achieve the next level of their company success. Metropolitan serves as that much needed capital solution for our borrowers, particularly in the challenging market environment in which businesses currently find themselves.”
Fund VI’s diverse, limited partner investor base includes: private pension trusts, university endowments, insurance companies, wealth managers and family offices, among other investors. We are pleased to report that Texas Tech University, a cornerstone investor in Metropolitan’s Fund IV and Fund V, again committed capital for Metropolitan’s Fund VI. As of today, Fund VI has already deployed more than 45% of the capital across 12 investments and has successfully exited one position.
Metropolitan’s Fund V strategy, which closed in 2018, is fully invested and has made 18 investments of approximately $170 million to date.
About Metropolitan Partners Group:
Metropolitan Partners Group is a direct-lending fund manager that provides senior-secured, short-term capital to small and mid-sized businesses in the U.S. that have not had an institutional investor, are going through a period of growth and require additional capital in order to achieve scale. Metropolitan funds provide short-term loans of $5 million to $30 million to fundamentally sound companies with a typical loan term of 12 to 36 months. Since its inception in 2008, Metropolitan has deployed more than $1 billion of capital and completed over 80 investments with companies across several business sectors, including specialty finance & financial services, agriculture, telecom & media, healthcare services and affordable housing. To learn more, go to: http://www.metpg.com/