News Briefs

Oaktree, Mehta and Atlanta Falcons minority owner Kestenbaum launch new JV IR2

This platform has an optimal investment size of $100 million, and up to $1 billion.

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  • Kestenbaum has served as Stelco’s executive chairman and CEO since September 2017, following its acquisition out of bankruptcy
  • Mehta has held several international executive management roles at Ferroglobe PLC
  • Oaktree has $159 billion in assets under management as of June 30, 2022

Alan Kestenbaum, Gaurav Mehta and Oaktree Capital Management have launched IR2 Holdings, a joint venture that will focus on financing, owning, and/or operating assets across the metals, mining, energy and natural resources sectors.

This platform has a long-term investment horizon with optimal investment size of $100 million, and up to $1 billion.

Brian Laibow, a managing director and co-head of North America for Oaktree’s global opportunities strategy, said in a statement, “Oaktree is excited about this partnership with Alan and Gaurav, which stands to benefit from a number of emerging trends creating unique opportunities in the sector, such as the energy transition and a shift to local value chains. We believe Oaktree’s global platform will provide a strong foundation for the business moving forward.”

Alan Kestenbaum has served as Stelco’s executive chairman and CEO since September 2017, following its acquisition out of bankruptcy. He is also a minority owner of the Atlanta Falcons. Kestenbaum has over 30 years of experience in the metals and mining production, trading, distribution and finance business. Kestenbaum previously founded Bedrock Industries in partnership with Lindsay Goldberg.

Gaurav Mehta has held several international executive management roles at Ferroglobe PLC, serving as the transformation director and executive vice president of corporate strategy, investor relations, information technology and M&A, and was recently appointed as president of North America. Prior to Ferroglobe and its predecessor, Globe Specialty Metals, Mehta had ten years of investment banking experience covering global industrials, with a focus on metals and mining clients, executing over $25 billion in strategic advisory and capital raising transactions.

Oaktree has $159 billion in assets under management as of June 30, 2022.

IR2 Holdings, LLC operates as a holding company focused on