Private equity fund manager Lafise Investment Management, a branch of financial conglomerate LAFISE Group, has reached a first close on its latest fund, CASEIF III, with US$28.75 million in capital commitments. CASEIF III, which has a target of US$50 million, aims to invest between US$1 million and US$5 million in small- and medium-sized enterprises in Central America, the Dominican Republic and Colombia. Investors in the initial closing included the Norwegian Investment Fund for Developing Countries, Andean Development Corporation, Obviam, FMO and LAFISE Group.