Metropolitan could raise double Fund IV in 2018 close – exclusive

The US special situations investor is plotting a final close in Q4 this year, PDI understands.

Metropolitan Partners Group, a New York-based direct lender, could raise double the amount it gathered for Fund IV with its fifth flagship in 2018, Private Debt Investor has learned.

The firm is aiming to hold a final close in Q4 this year, according to a source with knowledge of the firm. Fund V has a $250 million hard-cap, which could be at least double the $100 million to $125 million raised for its predecessor, the source noted.

Fund V has a $200 million target and has already raised at least $65 million, SEC filings show.

Metropolitan declined to comment on fundraising.

Metropolitan Partners Group provides senior-secured, short-term capital to small- and mid-sized businesses in the US that have not had an institutional investor, according to an August statement. It lends $5 million to $25 million with a typical loan term of 12 to 36 months.

Founded in 2008, the firm has deployed more than $600 million of capital and completed over 55 investments with companies across business sectors including specialty finance, local infrastructure, telecom, heavy equipment, niche manufacturing and automation.