CPE News (1.13.2022) – Westcap Mgt. Ltd. has held a final close in December 2021 for Westcap MBO III Investment LP, securing $285 million in total capital commitments
Fund III represents the largest amount raised by a Saskatchewan based private equity fund manager.
Fund III will be led by GPs, Grant Kook, Rob Connoly, Jamie Schwitzer and Lee Jebb.
Fund III will continue to focus on providing succession and growth capital to long-standing, Western-based companies involved in transition, consolidation or merger and acquisition activity.
Mr. Grant J. Kook, President and CEO of Westcap, comments, “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.
photo credit: Westcap
News Release
Westcap Announces Final Close of $285 million for Fund III, the Largest Private Equity Raise by a Saskatchewan-based Fund Manager
Saskatoon, Saskatchewan — January 13, 2022 — Westcap Mgt. Ltd. (“Westcap”), is pleased to announce the final close of Westcap MBO III Investment LP (“Fund III” or the “Limited Partnership”) of $285 million. Upon its launch in spring 2021, Fund III targeted a minimum raise of $150 million which represented an increase from previous Funds in the series. The large demand in subscriptions resulted in the General Partner seeking Limited Partner approval for a further increase in capitalization to a maximum of $285 million which was successfully achieved. Fund III represents the largest amount raised by a Saskatchewan-based private equity fund manager.
This final closing represents a third fund in a series of private equity offerings targeted to institutional and high-net-worth investors, pensions and trusts, and family offices with deep roots in local communities which supports Westcap’s alignment in identifying strategic transactions, local knowledge, and strong expertise. The Limited Partnership will continue to focus on providing succession and growth capital to long-standing, Western-based companies involved in transition, consolidation or merger and acquisition activity.
Mr. Grant J. Kook, President and CEO of Westcap, comments, “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.
About Westcap Mgt. Ltd.
Founded over three decades ago, Westcap is a leading private equity and venture capital fund manager having completed transactions in more than 200 growth companies. Westcap has managed in excess of a billion dollars of assets across a broad range of investment funds through its years and has an uncompromising vision to build long-term value for investors.
For further information, please contact:
Grant Kook, President and Chairman
Westcap MBO III Investment GP Inc.
601 , 409, 3 rd Avenue South.
Saskatoon, SK
Tel: (306) 652-5557
Rob Connoly, Officer and Director
Westcap MBO III Investment GP Inc.
601 , 409, 3 rd Avenue South.
Saskatoon, SK
Tel: (306) 652-5557