Hegarty's EMR raises $450M

OWEN Hegarty's EMR Capital has raised $US450 million ($A578.8 million) to invest in mining companies and projects globally.

Kristie Batten
Hegarty's EMR raises $450M

The EMR Capital Resources Fund I will focus on copper, gold, potash and coking coal in stable jurisdictions from pre-development through to production.

EMR managing director and CEO Jason Chang said the raising was a testament to EMR’s investment strategy and track record.

“We are extremely grateful to have the support of high quality investors, including endowments, foundations, family offices and funds of funds, that has seen the fund oversubscribed,” he said.

EMR’s major investment to date has been a 32.4% investment in Australian potash developer Highfield Resources.

Chang said EMR looked forward to building on its portfolio.

“The current global market environment, including increasing demand for commodities from emerging markets and the special features of the mining sector, are ideal for private equity investments and partnerships,” he said.

“EMR’s mining operational experience, unique networks, and insights and experience in Asian markets bring highly complementary skillsets and experience to mining companies, so we are able to partner effectively to advance and add value to their projects and achieve their vision.”

He added that the four commodities in focus were based on their strong outlook, deep and liquid markets and low substitution risk.

“They are commodities that we have extensive experience in and a good track record,” Chang said.

Melbourne-based EMR was formed by former Oxiana boss and current Fortescue Metals Group director Hegarty and Chang, a former partner in charge of KPMG’s Asia practice in Australia.

Hegarty told in September that EMR was quality driven.

“Bottom half of the cost curve, resilient, that are going to have the tonnes, the grade, the metallurgy, low cash costs, lots of upside, long life, stable and secure demand – they’re the only things that matter basically,” he said at the time.


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