Molycorp (MCP) Private Equity Investment Could Pay Off Big
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Resource Capital Funds has invested $110 million in Molycorp Inc. (NYSE: MCP), which is worth about $1.5 billion considering the company's current stock price.
A report from Forbes on Tuesday noted that Resource Capital has not realized any profit from the investment into Molycorp.
“We don’t want to count our chickens before they hatch,” Ross Bhappu, the Resource Capital partner who put together the investment, said. “It would be hard not to be excited about it, everybody is really pleased about the performance of Molycorp and that is shared around the office and our (investors) are also equally very happy and we get calls about it from them all the time.”
Bhappu said that the private equity firm would consider taking an opportunity to monetize its investment in Molycorp, but it does not want to disrupt the run the company has been on.
Shares of Molycorp closed down 2.51 percent to $53.24 on Tuesday.
A report from Forbes on Tuesday noted that Resource Capital has not realized any profit from the investment into Molycorp.
“We don’t want to count our chickens before they hatch,” Ross Bhappu, the Resource Capital partner who put together the investment, said. “It would be hard not to be excited about it, everybody is really pleased about the performance of Molycorp and that is shared around the office and our (investors) are also equally very happy and we get calls about it from them all the time.”
Bhappu said that the private equity firm would consider taking an opportunity to monetize its investment in Molycorp, but it does not want to disrupt the run the company has been on.
Shares of Molycorp closed down 2.51 percent to $53.24 on Tuesday.
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