Resource Capital Seeks $1.75 Bln for Mining Fund

Resource Capital Funds is seeking $1.75 billion for its next mining-focused private equity fund, more than its predecessor, a 2009 fund that closed at just over $1 billion, according to a person familiar with the situation.

Resource Capital Fund VI LP will invest from $10 million to about $200 million in both private and public businesses in the mining sector, the person familiar said. Fund VI will invest globally across all commodities. Projects will range from post-exploration properties to producing assets, said the person familiar.

Peter Nicholson, a partner at the firm, couldn’t be reached for comment.

The Denver-based firm has invested in about 111 mining companies located in 38 countries and involving 27 commodities, according to its website.

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