JSM Financial: Private equity fund Pacific Road Resource Fund to acquire 10% of Carbon Energy Ltd.

March 29, 2010 - PRLog -- Carbon Energy Ltd. has recently announced that after an extensive period of due diligence, the private equity fund of Pacific Road Capital Management, Pacific Road Resources Fund, has agreed to acquire a 10% stake of the firm in an off market trade, JSM Financial sources say.

The company owns or controls exclusive rights to all the intellectual property rights to CISRO’s underground coal gasification technology.

Pacific Road, JSM Financial was informed, may yet decide to transfer some of this position to an investor or investors in its funds.
According to Carbon Energy’s web site Pacific Road is supportive of the firm’s growth strategy.

“Pacific Road’s investment in Carbon Energy follows a six month comprehensive due diligence process, and is a strong third party endorsement of the Company’s strategy and its UCG technology. We are particularly pleased to have Pacific Road as an investor as they bring to the table valuable business expertise as well as their access to networks and resources,” JSM Financial believes the Managing Director, Andrew Dash recently said in a statement.


PRRF is a $320 million fund managed by Pacific Road Capital Management and is believed to be backed by the Singapore Government investment fund Temasek, Australia’s Sun Super and some U.S. based investors. The firm currently has investments in projects in the Americas (including two in Chile), Australia, Africa and the Pacific, JSM Financial sources indicate, with its primary focus being on investments in resource rich regions with manageable risks.

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