# EMR Capital

EMR Capital is a Private Equity based in Melbourne, Victoria, Hong Kong.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Melbourne, Victoria, Hong Kong
- **Region:** Asia
- **Address:** Hong Kong Island, Hong Kong
- **Founded:** 2011
- **Assets under management:** Undisclosed
- **Website:** www.emrcapital.com
- **LinkedIn:** https://www.linkedin.com/company/emr-capital

## About

EMR Capital is a specialist resources private equity manager and operator with over 300 years of combined operational and investment experience. It has owned and successfully operated numerous operations and projects globally over 4 decades, leveraging deep experience and the application of new technology, processes and infrastructure. EMR Capital is the manager of various EMR funds and has owned and/or operated mining operations with a total enterprise value of over US$5Bn.

## Sectors

- Mining & Resources
- Energy Transition & Renewables

## People

- Owen Hegarty — Executive Chairman
- Jason Chang — Chief Executive Officer and Managing Director
- Tony Manini — Executive Director and Investment Committee
- David Jones — Investment Committee and Chairman of Audit & Governance Committee

## Questions

### Who runs investment decisions at 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.

### Does EMR Capital target a particular stage of mining asset?

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.

### How does the firm source proprietary deal flow?

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.

### What is EMR Capital's geographic focus?

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.

### How is EMR Capital related to Tigers Realm Minerals?

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.

### Does EMR Capital commit its own capital alongside investors?

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.

### What is the governance structure at EMR Capital?

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.

## Related profiles

- [Empros Capital](https://altss.com/profile/empros-capital)
- [EMSA Capital](https://altss.com/profile/emsa-capital)

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Last updated: 2026-08-11T15:06:42.396Z

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