The Financial Post reports in its Saturday edition that the deal-driven chief executive officer of steelmaker Stelco Holdings has earmarked $400-million (U.S.) of his own money for a fund to invest in coal and other industrial assets. A Bloomberg dispatch to the Post says that Alan Kestenbaum, who years ago helped buy distressed Stelco, is relaunching a fund to invest in industrials, mining and commodities. The dealmaker, whose family has invested in commodities for decades, said targets include operations that have fallen out of favour during the energy transition, such as coal. The steel executive has revived the Bedrock Industries name for his latest move, using the identity for the Miami-based holding company that will do the deals. The name was part of a venture with private equity firm Lindsay Goldberg LLC from 2015 until 2021, when Mr. Kestenbaum bought out his partner. Mr. Kestenbaum is using his own cash for Bedrock "to pursue other Stelco-type deals." He said the company will be looking in China, Latin America, the Middle East and India, where growth rates are more than double North America. "We'll go into coal and other underserved markets," he said. Demand for the dirtiest fossil fuel remains resilient.