HedgeCo.net ( New York ) –CD Capital and PCE Investors are pleased to announce the launch of the CD Private Equity Natural Resources Fund (\u00c3\u00a2\u00e2\u201a\u00ac\u00cb\u0153the Fund\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2).<\/p>\n
The Fund will be established by Ms Carmel Daniele who was until recently at RAB Capital. Previously she had been in various corporate finance roles at Newmont Mining\/Newmont Capital, Normandy Mining, LaSource SAS (joint venture with Le Bureau de Recherches G\u00c3\u0192\u00c2\u00a9ologiques et Mini\u00c3\u0192\u00c2\u00a8res), PosGold and Deloitte. Other central members of the team include natural resources specialists, Mr Gordon Toll, Technical Director, previously with Ivanhoe Mines and Rio Tinto, Mr Peter Hedger, Mining Finance Analyst and Mr Emil Morfett, Consultant Mining Geologist.<\/p>\n
A cornerstone early investor in the Fund is the leading natural resources investor, Mr Lukas H. Lundin Chairman of Lundin Mining Corporation.<\/p>\n
The Fund is being established to take advantage of the commodities super-cycle driven by the strong growth in the BRIC countries (Brazil, Russia, India and China). The investment objective will be to achieve capital growth through pre-IPO and other early investment in the natural resources sector targeting opportunities which could deliver substantial returns on exit.<\/p>\n
The Fund will have an opportunistic strategy. It has no commodity or geographic restrictions. It is designed to invest in all natural resource entities focussed on zinc, copper, nickel, tungsten, molybdenum, uranium, coal, steel, iron ore, gold, silver, diamonds, oil and gas.<\/p>\n
The Fund will be structured as an unlisted fund incorporated in the Cayman Islands. The objective is to raise US$100m and is currently scheduled to close on 31 October 2006. Management fees are 2% with performance fees of 20%. The minimum investment is US$1mn, with a 3 year lock up and annual liquidity thereafter with a 12 month notice period. The prime broker is Goldman Sachs.<\/p>\n
Ms Carmel Daniele Chief Investment Officer of the Fund said:-<\/p>\n
\u00c3\u00a2\u00e2\u201a\u00ac\u00cb\u0153I am very excited to be launching this fund with one of the world\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s leading natural resources investor, Lukas Lundin, as my cornerstone investor and to have a team that knows the sector so intimately. In this leg of the super-cycle it\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s important to invest in companies that have a growth strategy so you can still make money if commodity prices don\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2t rise. This fund is designed to do just that.\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2<\/p>\n
Patric de Gentile-Williams CEO of PCE Investors said:-<\/p>\n
\u00c3\u00a2\u00e2\u201a\u00ac\u00cb\u0153We are pleased that CD Capital has chosen to appoint PCE Investors to launch one of the world\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s first private equity funds in the natural resources space. Carmel and her high calibre team make a prestigious addition to the platform.\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2<\/p>\n
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For further information please contact:<\/p>\n
Lorraine Lyons, Director, Marketing<\/p>\n
PCE Investors Limited<\/p>\n
Direct: +44 (0) 20 7664 6491<\/p>\n