EMR Capital, an Australian specialist mining private equity firm with linkages to Asian markets, is raising another PE fund this year, EMR Capital Co-Investment V, according to its latest US Securities and Exchange Commission (SEC) filing.
The launch of the new fund, whose target size and launch date have not been disclosed yet, comes after EMR Capital closed its second PE fund – EMR Capital Resources Fund II – at $860 million in 2016.
EMR Capital, founded by ex-OZ Minerals boss Owen Hegarty, currently manages ten investments worldwide across its four key commodity areas of gold, copper, hard coking coal and potash, with further opportunities in the pipeline.
The Australian private equity firm has linkages to Asian markets and has a focus on assets in copper, gold, potash, and coking coal that it looks to acquire globally. In June 2018, EMR Capital announced the acquisition of the Cerro Colorado copper mine in Chile from global miner BHP Billiton.
EMR Capital manages EMR Capital Resources Fund, a closed-ended, unlisted PE fund that invests into, and takes strategic stakes in, resources companies and projects consistent with the firm’s investment strategy.
“The objective of the fund is to achieve superior returns for investors leveraging the expertise, experience, and networks of our team,” the firm said on its website.
The fund’s investment targets typically include commodities where the macro outlook is strong, companies with projects of a high grade and good resource upside potential, and management that has the capability and expertise for successful exploration, development, operation, and commercialisation of projects.
Its first fund – EMR Capital Fund I – has invested in six assets, including the Martabe gold mine in Indonesia, a coking coal mine in Britain, a copper mine in Australia and Chile, and potash projects in Spain and the United States.
In August 2018, EMR Capital announced the sale of its stake, along with the interests of Farallon Capital and other shareholders, in Indonesia’s Martabe gold and silver mine to PT Danusa Tambang Nusantara in a deal valued at $1.21 billion.
Martabe is one of Asia’s largest gold mines with reserves of 4.7 million ounces of gold and 36 million ounces of silver, and resources of 8.8 million ounces of gold and 72 million ounces of silver as at 31 December 2017.
https://www.dealstreetasia.com/stories/emr-capital-fund-135066/
2019-05-12 17:48:56Z
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