[miningmx.com] – MICK Davis is seeking to raise at least $3bn in order to fund his next project, X2, a private equity firm that he intends to build along the lines of Xstrata, the mining group merged with Glencore last year.
Bloomberg News, citing people with knowledge of his plans, said Davis would limit the number of investors in X2 to six or seven with each providing about $500m.
Last year, Davis raised $1bn with investments from Singapore trader, Noble Group, and TPG, a private equity fund.
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