Whitecastle Private Equity Partners Fund LP has launched with more than $60 million of capital under management. Whitecastle says it will invest in small to medium-sized enterprises across key private business sectors, primarily in Canada, but also in the northeastern United States.

The fund will target opportunities in key business sectors, including health care services and products, financial services, and manufacturing, with investments ranging from $5 to $25 million each.

The fund’s limited partners, comprising both Toronto-based Whitecastle Investments Ltd. and some of Canada’s largest pension funds, may co-invest with the fund, significantly increasing the amount of capital available for a single transaction.

“We at Whitecastle believe our fund fulfills a niche in the Canadian private equity market that is currently under-serviced,” said Carey Diamond, managing director of Whitecastle, in a release. “The traditional avenues for capital are becoming less accessible for small and medium-sized enterprises, and our skills in helping these companies grow and prosper fill a much needed void. Our patient time horizons, close interaction with management, and serious focus on the investees will assist these companies in achieving their potential.”