Resource Capital Partners (RCP), a private equity fund management company with offices in Denver and Almaty, Kazakhstan, has made its first investment.
The fund will allocate up to USD6m through a convertible debt instrument to finance a CapEx programme for the Maxut copper-nickel deposit in Kazakstan. The developer of the project is BAST LLP.
The fund will obtain an equity interest of 50.1 per cent.
Richard Waryn, managing director, says: “We are pleased to announce our fund’s first investment. The Maxut copper-nickel project offers a compelling opportunity for the fund to acquire a majority stake in a substantially de-risked project with considerable upside potential.”
RCP has also decided to change the name of its company to Centurion Resource Group (CRG), effective immediately. CRG is neither associated nor affiliated in any way with Resource Capital Funds, another Denver based group.
