Canada-based diversified conglomerate Walter Group of Companies has launched a private equity subsidiary dubbed Walter Capital Partners with $100m of capital committed through its investment firm, Walter Financial.
Walter Capital is expected to raise an undisclosed amount of additional funding from its managing partners and other, undisclosed sources.
The firm’s managing partners are Pierre Fitzgibbon, who previously served as president and CEO of health products manufacturer Atrium Innovations, and Éric Phaneuf, a former vice-president at recycled packaging producer Cascades.
Walter Capital will target small and medium-sized enterprises looking for growth capital, though it has not disclosed whether it will look to focus on any specific sector.
The firm will be headquartered in Canada with a second office in the US, where it will work closely with private equity group Watermill to help companies looking to expand into the country.