Thursday, 24 July 2014
Last updated 11 hours ago
Sep 20 2013 | 12:19pm ET
RK Capital Management has spun-off its private-equity business.
The $1.14 billion RK Mine Finance Fund II has been turned over to New York-based Orion Mine Finance, headed by RK co-founder Oskar Lewnowski. The new firm will focus exclusively on mining finance, Financial News reports.
The split was mutual and a result of the two firms' "strategic vision," a source close to Orion told FN. It is unclear whether Lewnowski paid anything for the spin-off.
RK Mine Finance represented about one-third of London-based RK's assets under management, leaving the metals specialist, which runs the Red Kite hedge funds, with about $2.3 billion under management.
In addition to its New York base, Orion has offices in Bermuda, Denver and Sydney, Australia. The firm announced a $30 million financing deal with GoGold Resources this week.
Before co-founding RK with Michael Farmer, Lewnowski worked at Credit Suisse.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…