Integrated Asset Management Corp. and GPM Investment Management Announce Launch of GPM (12) Real Estate Fund
17 November 2010 - 6:51AM
Marketwired Canada
Integrated Asset Management Corp. ("IAM") (TSX:IAM) and its real estate arm,
GPM Investment Management ("GPM"), announced today the launch of GPM (12), the
12th fund in its highly successful series of pooled real estate funds.
Like the previous 11 funds in the series, GPM (12), which is targeted to raise
between $150 and $200 million, will be a closed-end, discretionary fund focusing
on industrial properties in the GTA, Ottawa, Edmonton, Calgary, Vancouver,
Montreal and Halifax markets. First close is expected to be on March 31, 2011.
The two previous funds, GPM (10) and GPM (11) were over-subscribed, and GPM has
already received strong expressions of interest for GPM (12) from institutional
investors.
GPM's funds enjoy a high level of repeat investors; in addition, they have
proven very popular with institutional investors making their first allocation
to real estate. These investors are attracted by the long, successful track
record and the low volatility and stable income generated by GPM. Over the last
28 years, the composite rate of return on the funds, net of all fees and
expenses, was approximately 12.8 % to the end of September, 2010.
Brent Chapman, President & CEO of GPM, said, " with interest rates at historic
lows, and more and more investors adopting liability-driven strategies, the
combination of stable, predictable income, a positive correlation to inflation
and valuable diversification has made real estate a core asset class for many
long-term investors."
GPM Investment Management is a wholly-owned subsidiary of IAM. IAM is one of
Canada's leading alternative asset management companies, with approximately $2.3
billion in assets and committed capital under management in private corporate
debt, real estate, private equity, managed futures, global bonds and retail
alternative investments.
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