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.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…