Integrated Private Debt (IPD) Corp., the private corporate debt unit of Integrated Asset Management Corp., finished with US$307 million for its fourth fund. The proceeds raised brought the Canadian mid-market's capital to US$1.5 billion since the first fund closed in October 2004.
Fund IV is the fourth in a series of investment grade private placement debt funds initiated by the company. The fourth fund will be open for additional capital investments until October of this year, The capital pledged to Fund IV will be utilized in continuing IPD's successful projects which highlights investments in mid-market Canadian borows in order to generate profits exceeding comparable publice market income for its fund investors.
"We are excited about the prospects for investing Fund IV with the intention of achieving results consistent with the performance of our previous funds," remarked IPD President Philip Robson concerning the proceeds. "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."
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