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From Komfie Manalo, Opalesque Asia:

One of Canada's leading wealth management firms Salida Capital has announced the launch of private equity fund to focus on the natural resources space. The soon-to-be launched fund has already generated $100m in seed investment commitments and will begin marketing in May, for what the firm expects will be a 6-8 month timeframe for raising the maximum targeted capital (an amount not disclosed by the firm.

Courtenay Wolfe, president and CEO of Salida Capital said in a statement: "We're extremely excited about the opportunities we see for our private equity fund. It's an area we've been planning on venturing into for awhile, and we are pleased to announce that we have already secured a $100m seed investment for the fund prior to its official launch."

The initial seed money was pledged by Bill Gallacher, president and CEO of Avenir Capital Corporation and chairmana nd founder of Athabasca Oil Sands Corporation. Gallacher said of his investment: "My relationship with Salida goes back many years. I'm a huge supporter and friend of the firm and am optimistic about the future of this relationship."

Wolfe said Salida remains focused in publicly listed securities and its entry into private equity was influenced by the many opportunities the team is seeing in that space. He said many of the firm's investors are looking for a longer-term time horizon for investing an......................

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