Westcap Announces Fund Ill Final Close of $285M, supporting Golden Opportunities’ Continued Focus on Management Buyouts

Westcap Announces Fund Ill Final Close of $285M, supporting Golden Opportunities’ Continued Focus on Management Buyouts

Saskatoon, Saskatchewan — January 26, 2022 — Westcap Mgt. Ltd. (“Westcap”), is pleased to announce the final close of Westcap MBO Ill Investment LP (“Fund Ill” or the “Limited Partnership”) of $285M. Upon its launch in spring 2021, Fund Ill 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 $285M which was successfully achieved. Fund Ill represents the largest amount raised by a Saskatchewan-based private equity fund manager.

This is the final closing of a third fund in a series of private equity offerings capitalized by some of Canada’s largest banking institutions, Credit Unions, high-net-worth investors, pensions and trusts, and family offices. In Saskatchewan the Limited Partnership invests alongside Golden Opportunities Fund Inc., the Province’s first Retail Venture Capital Corporation, in executing on its key strategic Management Buyout pillar focused on providing succession and growth capital to long-standing, locally based companies.

Mr. Grant J. Kook, President and CEO of Westcap, comments, “Fund Ill entrenches our unique investment thesis for Golden Opportunities Fund which allows the Fund access to succession transactions with great companies and results in a proven track record of performance for investors while achieving the unique goals of the owners and businesses with which we transact. It’s a model that is gaining widespread attention and success for all stakeholders involved. ”

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 invested more than 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.

About Golden Opportunities Fund Inc.

Founded over 20 years ago, Golden Opportunities Fund Inc. is the first and longest-standing Provincial Retail Venture Capital (RVC) Fund in Saskatchewan. The Fund makes strategic investments in high-growth sectors of the economy to maximize shareholder value. Learn more at GoldenOpportunities.ca

For further information please contact:

Grant J. Kook, President, and CEO Westcap Mgt Ltd.
601 – 409, 3rd Ave. S.
Saskatoon, SK
Tel: (306) 652-5557

Wanda Hunchak, Executive Vice President Westcap Mgt Ltd.
601 – 409, 3rd Ave. S.
Saskatoon, SK
Tel: (306) 652-5557