New York-based direct lending firm Metropolitan Partners Group Management, LLC has secured $172 million for its fifth direct lending fund.

The fund, Metropolitan Partners Fund V, will continue investing in U.S. non-sponsored companies in the lower middle market with revenues under $100 million.

The investments came from a group of limited partner investor base including university endowments, insurance companies, wealth managers and family offices.

Since inception, Metropolitan has secured more than $600 million in committed capital and has closed over 60 investments in lower middle market companies.