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Mongolia Fund To Invest In Mining Sector

Mongolia Opportunities Partners’ private equity fund is seeking to invest in Mongolia’s mining industry by the end of October.

Mongolia Opportunities Partners’ private equity fund is seeking to invest in Mongolia’s mining industry by the end of October, Bloomberg reports. The Mongolia Opportunities Fund intends to raise $75 million by June. Mitsubishi, International Finance Corp. and the European Bank for Reconstruction and Development are some of the investors that have put $25 million into the fund.

The vehicle targets a rate of return of about 30 percent and seeks to invest in five to eight companies as well as hold the stakes for three to five years. Batsaihan Jamichoi, co-founder of the fund, will manage the fund with executives from Asia Pacific Capital, including managing director Gage McAfee.

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