IAM ties up fifth private corporate debt fund at $672 mln

IAM Private Debt Group, an affiliate of Integrated Asset Management Corp (TSX: IAM), has wrapped up fundraising for its fifth private corporate debt fund. Fund V, which raised an initial $385 million in October, secured $672 million of committed capital in a final close. It is the largest fund yet raised by IAM Private Debt Group, which has accounted for over $2.4 billion since 2004. Fund V will show continuity with past funds, making fixed rate, fixed term loans to mid-market opportunities in Canada. Typical uses of the capital include refinancings, acquisitions, plant modernization or expansion, management buyouts and project financing.

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