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Metropolitan Partners Group Provides Debt Facility to International Literary Properties

June 03, 2020, 09:15 AM
Filed Under: Industry News

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."

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