EMR Capital

A four-person investment committee governs deployment: Executive Chairman Owen Hegarty, CEO Jason Chang, Executive Director Tony Manini, and Chairman of Audit & Governance David Jones. Chang handles day-to-day execution, while Hegarty and Manini lead origination and technical assessment.

EMR primarily targets operational mines and late-stage development projects that require technical or financial restructuring. The firm has acquired producing assets such as the Kestrel coking-coal mine and Capricorn Copper, and it can participate in public-to-private transactions where the team's operating experience provides a competitive bid advantage.

Deal flow originates from the team's deep industry relationships, particularly the founder networks at Rio Tinto, Oxiana, and Macquarie. The Kestrel mine acquisition, for instance, was sourced through Roland's prior connection to the asset during his Rio Tinto tenure, allowing a negotiated transaction rather than a broad auction.

The firm concentrates on Asia-Pacific and the Americas, with active investments in Australia (Kestrel and Capricorn Copper mines), Indonesia (Asiamet Resources through the Tigers Realm Minerals incubator), and Chile. Operating from Hong Kong provides proximity to Asian demand hubs for the commodities the portfolio produces.

Executive Director Tony Manini co-founded Tigers Realm Minerals Group, a private incubator that launched Tigers Realm Coal, Asiamet Resources (copper/gold in Indonesia), and NexGen Energy (uranium in Canada). Several EMR partners, including John Sheridan, worked at Tigers Realm before joining EMR, creating a shared deal-identification ecosystem between the two entities.

Yes. The general partner invests alongside limited partners on each deal, aligning interests with institutional co-investors who have participated in vehicles such as the EMR Capital Resources Fund. The exact GP commitment size is not publicly disclosed.

EMR operates with a board that includes a dedicated Audit, Risk Management and Compliance Committee chaired by David Jones, alongside an SEC Financial Expert qualified director from the Cayman Islands. This structure supports the regulated activities of their Cayman-based fund vehicles and provides institutional-grade oversight uncommon among specialist mining private-equity firms.