Metropolitan Partners Group Management, LLC ("Metropolitan"), a direct-lending fund manager that provides senior-secured, transitional capital to small and mid-sized businesses in the U.S., recently completed an investment in
International Literary Properties LLC ("ILP"). ILP was set up to acquire the rights in literary estates from those who have inherited them, or from living authors seeking financial certainty from an experienced and engaged buyer.
ILP will use the lending facility from Metropolitan to acquire more royalty-producing literary properties. Literary properties are contractual, cash-flowing assets derived from copyrights and are owned by authors, heirs and literary agencies.
"We are incredibly excited to partner with ILP, which is at the forefront of a nascent growing industry of buying and managing literary assets. ILP is perfectly positioned to become a leader in this market and Metropolitan's investment will provide ILP with the ability to strategically grow its portfolio of literary properties." said Paul Lisiak, Metropolitan's Managing Partner and Chief Investment Officer.
"We are excited to have Metropolitan as a partner," said Scott Hoffman, Global Chief Executive Officer of ILP. "When we launched ILP, it was our vision to build a portfolio of some of the world's most important and iconic literary works with an eye toward preserving their creators' legacies and ensuring they would bring enjoyment to readers for decades to come. This partnership is a major step toward that goal."
About Metropolitan Partners Group:
Metropolitan Partners Group is a direct-lending fund manager that provides senior-secured, transitional capital to small and mid-sized businesses in the U.S. that have not had an institutional investor, are going through a period of growth and require additional capital in order to achieve scale. The firm provides short-term loans of $5 million to $30 million to fundamentally sound companies with a typical loan term of 12 to 36 months. Since its inception in 2008, Metropolitan has deployed more than $1 billion of capital and completed over 80 investments with companies across several business sectors, including specialty finance and financial services, transitional farmland, affordable housing and technology & media. To learn more, go to: http://www.metpg.com
About International Literary Properties:
International Literary Properties LLC, is a New York and London based company that acquires, invests in, and manages literary estates and book-based intellectual property. To learn more, go to: https://www.internationalliteraryproperties.com/
For Media Inquiries:
Catherine Polisi Jones
Polisi Jones
cjones@polisijones.com
For International Literary Properties Inquiries:
Victoria Brooks
victoria@milkpublicity.com
44 (0) 771 200 9588
Source
:https://www.prnewswire.com/news-releases/metropolitan-partners-group-provides-debt-facility-to-international-literary-properties-301069849.html:
