Richard Fagan (businessman)
Richard Fagan (born 1971/1972) is a British businessman who created the Kijani Commodity Fund in 2011 and is captain of the Irish international polo team.
Early life
Richard Fagan was born in Britain, around 1972. He worked for a family motor repair chain before moving to Gibraltar around 2007 where he began a career in investment funds.
Kijani Commodity Fund
In 2011, Fagan started the Kijani Commodity Fund, "kijani" meaning green in Swahili. Early on, Iraqi billionaire Nadhmi Auchi, who was convicted of corruption in an unconnected matter in 2003, lent US$5 million to the fund which was returned in 2012. The fund was marketed to savers in the Middle East and Asia and by 2015 it had grown to around US$130 million according to the fund's own figures. The actual investments were made by Gibraltar incorporated Kijani Resources Ltd., of which Fagan is a major shareholder, with money lent to it by the Kijani Commodity Fund, the only asset of the fund being that loan. Assets of Kijani Resources included such things as forestry rights in Suriname and a West African oil-services company.