On January 13, 2022 Saskatoon-based Westcap Mgt Ltd. (Westcap) announced the final close for its MBO III Investment LP (Fund III) at $285 million – the largest private equity raise for a Saskatchewan-based fund manager.
Fund II saw large demand subscriptions, leading Westcap to seek approval for a further increase in capitalization to the $285 million maximization.
Fund III is the third in series of private equity offerings aimed at high net-worth and institutional investors, pensions and trusts, and family enterprises.
“We want to thank our Limited Partners for supporting the approval of a much larger fund due to the overwhelming interest in Fund III. Our unique model of how we approach succession transactions preserving the culture of great companies has resulted in a proven record of performance for our Limited Partners and continued institutional attention,” said Grant J. Kook, president and CEO of Westcap.
Westcap is a leading private equity and venture capital fund manager having completed transactions in more than 200 growth companies, and has managed in excess of a billion dollars of assets across a broad range of investment funds.