Frontier Services Group (“FSG”) and CITIC Capital Holdings (“CITIC Capital”) announced in December 2019 to each commit USD 25 million for investment in Frontier Strategic Resources Fund. Each will hold 50% share in the fund, with an objective of investing in the energy and resources sectors.
FSG has a strategic presence in over 20 key countries along the Belt and Road. With its exceptional shareholder background, extensive network and superior resources for collaboration, FSG is in a position to step in at the prospecting stage and secure potential resource projects with a low cost. CITIC Capital, with an experienced and strong management team, has core business in private equity investment, real estate investment, structural financing and asset management, managing capital of over USD 29 billion.The establishment of the Fund will greatly promote FSG’s business. It represents an excellent opportunity for FSG to expand its business by participating in private equity fund investment and benefit from the substantial investment experience of CITIC Capital. The subscription to the Fund will enable FSG to capture investment opportunities by identifying suitable projects and further diversifying its investment portfolio. It will also drive the development of FSG’s integrated core business in overseas security, logistics, insurance, and infrastructure.