Knight's Bridge closes first fund

The mid-market Canadian buyout firm has raised $62 million in three months.

Canadian mid-market specialist Knight’s Bridge has closed its first ever independently raised North American fund, with capital commitments of more than $62 million (€40.35 million).

A subsidiary of Canada's Counsel Corporation, a $39 million publicly traded real estate and merchant banking firm, Knight’s Bridge Capital Partners Fund I was raised within three months and without the assistance of placement agents. Knight’s Bridge had originally targeted $50 million to $80 million.

Although the opportunistic firm was vague on which specific industries it will focus, it said it will generally pursue equity-oriented investments of up to $10 million in small to mid-market businesses in Canada and the United States.

“We’re not looking at oil or gas…or mining,” said Adam Levy, vice president of the Toronto-based company. “But pretty much everything else is open.”

Although Knight’s Bridge currently manages a small technology-focused pool inherited from BVP Management, the $62 million represents its first independent attempt at fundraising.

Knight’s Bridge is headed by CEO Kenny Finkelstein, former co-owner of Canadian sports equipment designer Gen-Ex Sports.