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Red Kite Explorer will move into Ni, Pb, Zn after strong first year

July 22, 2009 - 07:30 GMT Location: London

KEYWORDS: red kite , red kite explorer fund , copper , nickel , lead , zinc , alex harrison

The Red Kite Explorer Fund plans to move into financing and offtake deals with nickel, lead and zinc producers, Red Kite md Michael Carsley told MB.

Since Red Kite, which describes itself as one of the world’s largest metals-focused investment firms, launched the fund in July 2008 it has concluded four financing deals in tandem with six offtakes, Carsley said in a statement. It has raised a “significant proportion” of the $400 million it is targeting “in a difficult fundraising environment” from those that already had cash with Red Kite, and new investors including public pension funds, family offices and other institutions, Carsley told MB. Its deals include an offtake transaction with a refined copper producer, and a combined finance and offtake agreement with a gold mine in which it led a syndicate, both in North America, Red Kite said. It has also concluded a deal in silver. But Red Kite, which was set up in November 2004 by Michael Farmer, Oskar Lewnoski and David Lilley and is best known for its trading in copper, plans to expand the...

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