Red Kite Spins Off Mining Private-Equity Fund

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.


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