# EMR Capital Management EMR Capital Management is an Asset Manager based in Grand Cayman, Hong Kong. ## Overview - **Organization type:** Asset Manager - **Headquarters:** Grand Cayman, Hong Kong - **Region:** Asia - **Address:** Hong Kong - **Founded:** 2012 - **Assets under management:** Undisclosed - **Website:** emrcapital.com ## Regulatory record - **CRD number:** 290297 - **SEC file number:** 802-111988 - **Registration status:** Registered - **Reports private funds:** Yes - **IAPD record:** https://adviserinfo.sec.gov/firm/summary/290297 ## About EMR Capital is a specialist resources private equity manager and operator with over 300 years of combined operational and investment experience. The firm has owned and successfully operated numerous operations and projects globally over 4 decades. EMR's model is to achieve target outcomes and returns largely through operational improvements through the application of new technology, processes, and infrastructure. ## Sectors - Energy Transition & Renewables - Industrial Tech - Natural Resources ## Offices - Sydney, Australia - London, United Kingdom ## People - Jason Chang — Founder & CEO - Owen Hegarty — Executive Chairman & Co-Founder - Peter Albert — Managing Director & Chief Investment Officer ## Questions ### Who runs investment decisions at EMR Capital? Investment decisions center on founder and CEO Jason Chang, Executive Chairman Owen Hegarty, and Managing Director and CIO Peter Albert. The trio operates an Investment Committee that reviews every transaction, with Hegarty leveraging his operating background from OZ Minerals and Chang bringing structured-finance discipline from his early career at Macquarie and Citigroup. The team's formal mining-engineering capacity distinguishes its underwriting process from that of generalist natural-resources funds. ### Does EMR invest at the exploration stage or only in producing mines? EMR focuses on near-production, producing, and turnaround-stage assets, avoiding greenfield exploration risk. The firm targets mines with established resources and a clear path to scaled output, often acquiring assets from distressed sellers or larger miners divesting non-core operations. This posture reduces geological risk and aligns with the fund-model requirement for visible exit pathways within a five-to-seven-year hold period. ### Which commodities does EMR target, and why copper and gold? Copper and gold anchor EMR's portfolio, with growing exposure to battery-metals assets such as nickel and potash. Copper appeals because of structural supply deficits and the metal's role in electrification; gold provides cyclical diversification and attracts a distinct set of trade buyers in Asian and North American markets. The firm has publicly stated that it avoids bulk commodities like iron ore and thermal coal to maintain a differentiated fund focus. ### How does EMR exit its investments? Trade sales to mid-tier and major mining companies constitute EMR's primary exit route, a model that delivered realized returns on the Martabe gold-silver mine in Indonesia and other Australian gold assets between 2016 and 2020. The firm occasionally executes dual-track processes evaluating IPOs but has historically landed on strategic-sale outcomes. This exit discipline shapes the acquisition filter: only assets with identifiable industry buyers move through the Investment Committee. ### Is EMR Capital linked to a sovereign wealth fund or a single-family fortune? No. EMR was founded by Owen Hegarty and Jason Chang as an independent partnership and operates third-party institutional capital through pooled closed-end funds. The firm does not manage a single-family portfolio or represent a sovereign entity, making it structurally distinct from Asia-based commodity-investment arms tied to family conglomerates or state balance sheets. ### What is EMR's operating model during ownership of a mine? Upon acquisition, EMR embeds technical operators — often including team members with direct mine-management experience — into the asset's leadership and board structure. The firm does not rely solely on third-party technical consultants; it pulls operational responsibility into the investment team. This hands-on model is unusual for a blind-pool private equity fund and traces directly to Hegarty's career building and running mines at Oxiana Resources. ## Related profiles - [Empyrean Technology](https://altss.com/profile/empyrean-technology-co) --- Last updated: 2026-07-10T22:59:50.000Z Canonical page: https://altss.com/profile/emr-capital-management-limited Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology