IAM raises $347 mln in close of infrastructure private debt fund

IAM Private Debt Group has closed its Infrastructure Private Debt Fund at $347 million in committed capital. The fund, backed by institutional investors, will make loans with terms of up to 25 years. It will build on the group's prior financings of toll bridges, wind farms, solar energy, biomass and cogeneration facilities, and municipal waste treatment assets across Canada. The private debt group, a division of Toronto-based Integrated Asset Management Corp (TSX: IAM), raised $672 million for its fifth mid-market fund, Integrated Private Debt Fund V, last November.

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