Resource Capital Partners said Wednesday that it has received $85 million for a fund focusing on global mining transactions. The target for the pool is $350 million. RCP expects the fund to close in the first quarter of 2014. RCP is a private equity fund manager that specializes in natural resources.
DENVER, Sept. 4, 2013 /PRNewswire/ — Resource Capital Partners (RCP), a private equity fund management company, announced today the first close of a planned $350 million private equity fund targeting global mining transactions. The initial close includes up to US$85 million in investor commitments.
Richard Waryn, Managing Director said, “The timing couldn’t be better to invest in global mineral resources. The mining sector has been capital starved for some time and a new fund should see significant value opportunities over the next few years.”
The fund’s strategy is to target and acquire interests in both early stage development assets as well as more advanced ‘brownfield’ opportunities with experienced management teams. Consolidation of sector specific assets will also form a significant part of the Fund strategy. A particular emphasis will be on deals in North America, Central Asia and Latin America.
David Linsley, Managing Director added, “We have assembled an exceptional team consisting of top professionals in geology, mine engineering, metallurgy, and private equity. Given the depth of experience plus our existing pipeline of transactions we feel confident our strategy will perform well in the coming years.”
RCP has entered into a joint venture arrangement with Behre Dolbear (www.dolbear.com), a leading minerals industry advisory group. Behre Dolbear will provide arms length technical consulting and oversight for the fund’s portfolio projects. Rustem Ospanov, Managing Director said, “We are very proud to be working with Behre Dolbear as the fund’s principal technical advisors. They bring a depth of experience that is second to none.”
RCP expect the Fund to close to new investors in the first quarter of 2014.
ABOUT RESOURCE CAPITAL PARTNERS: RCP is an international private equity fund management group with expertise in natural resources. The partners in RCP collectively have over 100 years of professional experience in private equity and mining investments. RCP has offices in Denver, Toronto and Almaty, Kazakhstan.