Crown Capital Partners meets initial $100 mln target for Fund IV

Canadian specialty finance firm Crown Capital Partners has initially closed its fourth special situations debt fund, Crown Capital Fund IV LP. Fund IV secured $100 million, meeting its first close target. The Calgary-based firm is seeking $300 million in total for the fund. It said additional closings will occur within the next three years as deal opportunities are identified. As reported by PE Hub Canada in June, Crown Capital has been pursuing a two-track fundraising process that includes proceeds obtained through its initial public offering (IPO). The IPO was completed in July. Capital raised from both sources will support the firm's expanded program for investing debt and quasi-equity in mid-market companies.

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