Private equity firm Exhilway Global, has closed a $200 million fund.
Investments came from high-net worth investors, pension funds and fund of funds. Exhilway, with the money, plans to acquire and operate mines in Turkey, Kazakhstan and Indonesia.
The New York firm plans to raise $500 million for its next fund to make investments in Peruvian and Ukrainian coal mines.
Exhilway also plans to launch a $2 billion opportunity fund, called Exhilway Global Opportunities Fund I in December, which focuses on emerging companies in America, Asia and Africa.
For more on emerging markets, see “10 Emerging Markets to Watch.”