London-based private equity group Appian Capital Advisory has raised $775m for its second mining fund, as it taps into a wave of investor interest in hard assets and efforts to combat climate change.
“We’ve been able to attract a lot of investors that didn’t have metals or mining exposure previously,” including Endowments, SWF, Family Offices and other Institutional Investors, adding it had benefited from cash exiting oil & gas funds.
Appian already lined up five investments for 40% of the capital committed. These include equity investments in Mineração Vale Verde’s copper-gold asset in Brazil and the Fingerboards mineral sands project in Australia.
It plans to target additional investments in countries including Brazil, Australia, Mexico, Peru, Chile and Canada, and where Appian has existing operations. The second fund will run for 10 years.
See the whole article on the Financial Times here:
https://www.ft.com/content/3a31eec3-4603-453b-9daf-6e4e0d7036d2
