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About US

Industrial Revolution 2 (IR2) is a specialized joint venture between Alan Kestenbaum, Gaurav Mehta and Oaktree Capital Management, L.P., bringing together a unique collection of expertise, resources and track record for investments across the metals, mining, energy and natural resources sectors. Consistent with our name, there are two themes we are pursuing. Firstly, everything that is used and how it is produced will be done differently in the future as new environmental goals are established. With this platform we intend to invest in businesses that are driving these new sources and ways of producing industrial inputs to meet these new standards in cost efficient ways. Additionally, with the weakening global macroeconomic backdrop on the heels of a global energy crisis, staggering inflation, emerging ESG strategies, liquidity scarcity, and growing risk of a prolonged period of economic slowdown, companies are reconsidering their operational and capital raising strategies. The IR2 platform is well positioned to take advantage of this unique set of events and has the flexibility to pursue a wide range of transactions, including capital investments, lending and outright acquisitions.

PHILOSOPHY

Our philosophy is to offer management teams with a patient and supportive partner who can work alongside them. Collectively, we seek to operate assets to maximize value to all stakeholders through a differentiated approach for acquisitions, asset optimizations, operational enhancements, and restructurings, as well as an active and collaborative partnership with all constituents.    

FOCUS

• Metals and Advanced Materials ─ smelting, rolling, alloying, bending and general fabrication and value-added industrial products across a wide range of diversified end markets

• Minerals ─ extraction and production of ores, minerals and concentrates • Natural Resources ─ exploration, production and processing

• Supporting a low-carbon green, circular economy; recycling, materials handling, by-product collection and processing, carbon capture and green technologies

ASSET CRITERIA

• Optimal investment size of $100 million, and up to $1 billion (though smaller and larger transactions will be considered)

• Favorable cost structure

• Geographically safe jurisdictions, with focus on Americas and Europe • Ability to deploy IR2’s operational expertise