Appian Capital Advisory, LLP, a London, UK-based global investment advisor to long-term value focused private equity funds that invest solely in metals and mining industry related companies, closed its second fund, at $775m.
Support came from both new and existing Tier 1 investors globally.
Fund II will focus on investments in metals and mining assets. Appian targets medium-sized assets, prioritising profitability over scale to generate maximum returns, with Fund II positioned to benefit from demographic trends, economic growth and action against climate change.
These include the commodities used in batteries, electric vehicles and renewable power systems including copper and nickel. The firm will also employ investments in precious metals as a potential portfolio hedge.
Led by Michael W. Scherb, Founder and CEO, Fund II will invest on a global basis, targeting assets in jurisdictions with proven geology, supportive governments and a robust legal framework including Brazil, Australia, Mexico, Peru, Chile and Canada, where Appian has existing operations.
The vehicle is already 40% deployed or reserved in five investments, including: Mineração Vale Verde’s copper-gold development asset in Brazil and Kalbar Operations’ Fingerboards mineral sands project in Australia (which is currently at the development stage); a royalty investment in Atlantic Nickel’s operating Santa Rita nickel-copper-cobalt asset in Brazil; and both royalty and credit investments in Harte Gold’s producing Sugar Zone mine in Ontario, Canada.
The team now has 37 investment professionals across locations in London, Toronto, Lima, Belo Horizonte and Sydney.
FinSMEs
11/01/2020