Mount Kellett Capital, the private equity fund run by ex-Goldman whiz Mark McGoldrick, has raised $732 million from 35 investors for its second fund, the Mount Kellett Capital Partners II LP, according to a recent regulatory filing.
Nicknamed “Goldfinger,” McGoldrick has an extensive background in Asia, where he has worked most of his career. At Goldman, where he was co-head of its Global Special Situations Group, he was best known for some of the firm’s riskiest and most lucrative investments, including its highly profitable bet on struggling Japanese golf courses.
Throughout his career, McGoldrick has specialized in investing in the debt and equity of distressed companies teetering on bankruptcy. It is expected he will use that expertise, and background in Asia, as part of the new fund’s focus.
While Mount Kellett’s first fund had a $5 billion target in 2008, the fund closed in Dec. 2009, having raised just $3 billion amid the lingering effects of the financial crisis. Nevertheless, the first fund was able to secure prominent investors such as Temasek, one of Singapore’s two giant sovereign wealth funds, according to a report by sister news service Reuters.
Among the first fund’s recent investments is one announced last month in Vietnam. According to SaigonMoney.com, Mount Kellett will invest $100 million for a 20 percent stake in Mason Resources, a Vietnamese mining firm.
Mount Kellett has 80 employees, according to its Web site, and offices in New York, Hong Kong, London and Mumbai.