Mon, 10/12/2018 - 10:06
Metropolitan Partners Group Management (Metropolitan), a direct-lending firm that provide senior-secured, short-term capital to small and mid-sized businesses in the US, has raised USD172 million, including co-investment rights, for its fifth and largest direct lending – Metropolitan Partners Fund V.
Fund V invests in US non-sponsored companies in the lower middle market with revenues under USD100 million that have not yet received institutional investor capital, are going through a period of growth and require additional capital in order to achieve scale.
"We are pleased to welcome new investors to Fund V and are thankful for the opportunity to continue to partner with our existing investors," says Paul Lisiak, Metropolitan's Managing Partner and Chief Investment Officer. "We believe that the interest we received in Fund V is a testament to our team's strong track record of execution, exceptional investment and operating expertise and targeted investment focus, which provides differentiated investment exposure for our investors. The non-sponsored lower middle market continues to be critically underserved with many borrowers looking for a stable capital partner that will help them get to the next level of success. We serve as that much needed partner."
Fund V has a diverse limited partner investor base, which includes: university endowments, insurance companies, wealth managers and family offices. Texas Tech University, a cornerstone investor for Metropolitan's Fund IV, more than doubled its allocation to Metropolitan this year, committing USD57 million. As of today, Fund V has deployed more than a quarter of the capital it raised, with over USD50 million in investments to six companies.
Since the firm's inception, Metropolitan has secured more than USD600 million in committed capital and has completed over 60 investments in lower middle market companies in the areas of: specialty finance, local infrastructure, telecom, heavy equipment, niche manufacturing and automation.
Metropolitan's Fund IV strategy, which closed in 2017, is fully invested and has made investments of approximately USD100 million to date.
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