Toronto-based Ridgewood Capital Asset Management Inc. said Tuesday that Ridgewood Canadian Investment Grade Bond Fund (RIB.UN: TSX) has completed its previously announced domestic private placement, raising $9.3 million.

The closed-end fund’s private placement consisted of 717,100 units, priced at $12.96 per unit.

The offering has been conditionally approved by the Toronto Stock Exchange.

TD Securities Inc. acted as the fund’s agent.

Ridgewood is an independent investment manager that manages approximately $1.1 billion in assets for a diversified client base of high net worth individuals, foundations/endowments, First Nation mandates and institutional accounts, of which approximately $600 million is invested in fixed income assets.