Integrated Asset Management Corp. and Integrated Private Debt Corp. Announce $387 Million Final Close for Integrated Private ...
October 07 2013 - 9:57AM
Marketwired Canada
Integrated Asset Management Corp. ("IAM") (TSX:IAM) and its private corporate
debt group, Integrated Private Debt Corp. ("IPD"), announce the second and final
close of IPD's fourth investment grade private debt fund, Integrated Private
Debt Fund IV LP ("Fund IV"), with commitments of $387 million. In addition,
certain investors took up co-investment rights.
Fund IV is IPD's fourth investment grade private placement debt fund and
increases the total capital raised by IPD for private corporate debt investments
in the Canadian mid-market to over $1.5 billion since Fund I closed in October
2004.
Over the past several months IPD completed the deployment of the commitments to
Fund III, providing almost $100 million to eight borrowers in the following
industries: municipal waste management, independent power, commercial services,
air services, real estate and manufacturing. These borrowers recognize the
opportunity to secure fixed rate financing and lock-in borrowing costs for up to
10 years. With Fund III fully invested, IPD will immediately commence investing
Fund IV.
Philip Robson, President of IPD said, "We will hit the ground running with Fund
IV as we have four investments approved, with an aggregate value of $74 million
ready to fund immediately following closing. Our investors continue to be
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 $2.0 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
www.iamgroup.ca
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