Integrated Private Debt Corp., a subsidiary of Integrated Asset Management Corp., revealed on Tuesday  that it closed CAD $307 million in commitments for its fourth fund. The money will be used to extend loan facilities to Canadian businesses in the mid-market level.

The company said the fourth fund is still open to new investors until October this year. Since it started raising private debt funding rounds in October 2004, the company already raised more than CAD $1.5 billion.

Philip Robson, President of IPD, said they are optimistic that the new fund will perform similar to their previous investments which yielded above average returns. He said the true measure of their success is the fact that a significant number of the shareholders in Fund IV are repeat 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," he said. "Our investors are attracted to the combination of enhanced yield, monthly distributions, diversification and reduced volatility."