Integrated Asset Management Corp. and Integrated Private Debt Corp. Announce $307 Million First Close for Integrated Private ...
July 30 2013 - 8:30AM
Marketwired Canada
Integrated Asset Management Corp. ("IAM") (TSX:IAM) and its private corporate
debt group, Integrated Private Debt Corp. ("IPD"), announce the first close of
IPD's fourth investment grade private debt fund, Integrated Private Debt Fund IV
LP ("Fund IV"), with commitments of $307 million.
Fund IV is IPD's fourth investment grade private placement debt fund and
increases the total capital raised by IPD for private debt investments in the
Canadian mid-market to over $1.5 billion since Fund I closed in October 2004.
IPD Fund IV will be open for additional capital commitments until October 2013.
The capital committed to Fund IV will be used to continue IPD's successful track
record of investing in mid-market Canadian borrowers to generate returns above
comparable public market returns for its fund investors. The three previous
funds have a composite 5 year annualized rate of return to June 30, 2013 of
7.65% and have outperformed their benchmark, the DEX Universe Index, by an
average of 227 basis points over every interval.
Philip Robson, President of IPD said, "We are excited about the prospects for
investing Fund IV with the intention of achieving results consistent with the
performance of our previous funds. Most gratifying to the members of the IPD
team is the presence of a significant number of repeat investors in Fund IV. We
appreciate their continued support and confidence. Our investors are attracted
to the combination of enhanced yield, monthly distributions, diversification and
reduced volatility."
IPD manages the Integrated Private Debt Fund LPs on behalf of a number of
Canadian pension funds and institutional investors. The IPD Funds invest in
fixed rate, investment grade term loans to mid-market companies and projects
across Canada. Typical uses of funds provided by IPD include refinancing
existing debt, acquisitions, plant modernization or expansion, project financing
and management buyouts.
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, managed futures, private equity and retail
alternative investments.
FOR FURTHER INFORMATION PLEASE CONTACT:
Integrated Private Debt Corp.
Philip S. Robson
President
416 367 3972
probson@iamgroup.ca
Integrated Asset Management Corp.
John Robertson
President
416 367 2593
jrobertson@iamgroup.ca
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