Integrated Asset Management Corp.

Integrated Asset Management Corp.

June 09, 2014 09:38 ET

Integrated Asset Management Corp. and GPM Investment Management Announce Final Close of GPM (13) Raising $135 Million

TORONTO, ONTARIO--(Marketwired - June 9, 2014) - Integrated Asset Management Corp. ("IAM") (TSX:IAM) and its real estate asset management arm, GPM Investment Management ("GPM"), announced today the final close of GPM (13), the 13th fund in its highly successful series of pooled real estate funds, raising $135 million.

GPM (13) is a discretionary fund focusing primarily on industrial properties, along with select retail and office opportunities, in the Greater Toronto Area, Ottawa, Edmonton, Calgary, Vancouver, Montreal and Halifax markets.

GPM (13) is structured as an open-end fund, recognizing market demand and respecting the desire of our many repeat investors to be able to periodically make additional investments while providing liquidity for rebalancing purposes.

The GPM funds continue to provide superior returns generating an annualized composite net rate of return of 12.8% over 32 years. The superior return, stable income generation and the strength of its management team continue to make GPM attractive to institutional investors such as pension funds, endowments and foundations.

Rick Zagrodny, President of GPM, said, "We are very pleased with the confidence our clients have expressed in us and look forward to continuing our well-established tradition of superior performance. Following completion of the initial investment period, the fund will open to new subscriptions. We expect that the open-end structure will attract additional new investors to join our loyal core of repeat investors."

GPM is a wholly-owned subsidiary of IAM. IAM is one of Canada's leading alternative asset management companies, with approximately $2.0 billion in assets and committed capital under management in private debt, real estate, private equity and managed futures.

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