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Canadian Whitecastle Private Equity Partners closes first private equity fund

Canada-based Whitecastle Private Equity Partners has closed the Whitecastle Private Equity Partners Fund with more than $60m of capital under management.

Limited partners include Whitecastle Investments and some of Canada's largest pension funds. They may co-invest with the fund to significantly increase the amount of capital available for a single transaction.

Whitecastle will invest in small to medium-sized enterprises, primarily in Canada but also in the United States. The fund will target investment opportunities in key business sectors, including healthcare services and products, financial services and manufacturing, ranging from $5-25m each.

Carey Diamond, managing director of Whitecastle, said, 'The traditional avenues for capital are becoming less accessible for small and medium-sized enterprises, and our skills in helping these companies grow and prosper fill a much needed void. Our patient time horizons, close interaction with management, and serious focus on the investees will assist these companies in achieving their potential.'

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