Mongolia’s First Buyout Fund Plans Debut Investment in October

Mongolia’s first private-equity fund, started by a former Uniqlo executive, plans to make its debut investment by the end of October, betting on growth in the country’s mining industry.

The Mongolia Opportunities Fund aims to raise $75 million by June 2012 and has received $25 million from investors including Mitsubishi Corp., Japan’s biggest trading company; International Finance Corp., the World Bank lending arm, and the European Bank for Reconstruction and Development, said co-founder Batsaihan B. Jamichoi, who introduced the line of low-cost cashmere sweaters at Uniqlo, a unit of Fast Retailing Co., Japan’s biggest apparel chain.