Pacific Road seeks $500m for new mining buyout fund
Pacific Road Capital Management, which targets buyouts in the mining sector, is planning to raise $500 million for its second fund. The Australian firm, which has invested in approximately 11 mining companies through its $320 million Resources Fund I, will begin fundraising in the next few months.
Mike Stirzaker, the private equity firm's investment director, told Reuters that 80% of investors in the first fund were foreigners, mainly from the US. He expects a similar breakdown for the second fund....
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