Country for PR: United Kingdom
Contributor: PR Newswire Europe
Monday, January 11 2021 - 18:00
Appian raises $775m reaching hard cap for second mining fund
LONDON, Jan. 11, 2021 /PRNewswire-AsiaNet/ --


- Fund II oversubscribed reaching $775m hard cap bringing total under 
management to over $1.2 billion  
- Strong investor interest reflects demand for hard assets and green 
commodities exposure  
- Provides exposure to copper, nickel and other base and industrial metals with 
a precious metals hedge  
- 40% already deployed using Appian's world class global sourcing and execution 
- Builds on Appian's record of generating strong risk adjusted returns by 
identifying, acquiring and developing undervalued metals and mining assets  
- Majority of fundraising completed remotely through COVID-19 pandemic 
- Team expanded to 37 investment professionals across locations in London, 
Toronto, Lima, Belo Horizonte and Sydney, overseeing nearly 5,000 employees 
across the portfolio 

Appian Capital Advisory LLP ("Appian" or the "Company"), the investment advisor 
to long-term value focused private equity funds that invest solely in mining 
and mining related companies, today announces the final close of its second 
fund ("Fund II"). Fund II was oversubscribed and reached its hard cap of $775m 
following strong support from both new and existing Tier 1 investors globally. 

Focus on core growth commodities

Fund II will pursue the same proven strategy as Appian's first fund ("Fund I"), 
focusing on investments in metals and mining assets. Appian targets 
medium-sized assets, prioritising profitability over scale to generate maximum 
returns, with Fund II well 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 Company will also 
employ investments in precious metals as a potential portfolio hedge.

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 

Fund II is already 40% deployed or reserved in five investments, demonstrating 
Appian's strong global sourcing and execution capabilities. These include 
equity investments in 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. 

Additionally, Fund II has significant capital available to pursue larger 
co-investment opportunities.

The financial and operational expertise to deliver returns

Appian has a unique strategy that delivers outsized returns in the mining 
sector and limits downside risk. As a specialist private capital provider, it 
applies long-term value investing principles to a cyclical industry and remains 
highly disciplined, focusing on high margin, low cost assets with a 
high-quality resource base where there is the potential to add value. 

The Company's unique in-house technical and investment expertise allow it to 
identify undervalued opportunities in the sector. The financial team has 
experience from leading investment banks and private equity firms, having 
completed over $200 billion of mining transactions, while the technical team is 
comprised of industry professionals from major mining companies who have 
brought over 60+ mines into production. This allows us to apply the technical 
sophistication of a major mining house to smaller operations, reducing 
development and operating costs and bringing forward production to boost 

Appian's strong culture of accountability allows it to maintain the highest 
environmental, social and governance standards across all operations and 
investments, and the Company has established a Charitable Foundation to support 
the regions in which its operations are based. Appian has a strong Advisory 
Board comprised of leading individuals from the mining, financial and 
commercial sectors. 

Strong track record

Following the success of Fund I and the investments already made from Fund II, 
Appian's portfolio is well diversified. It invests in equity, credit and 
royalties across the capital structure, and importantly where its industry 
leading technical and financial teams are able to assist the underlying 
management teams to create value. 

Appian has an excellent track record with very strong risk-adjusted returns 
delivered to date. It has made nine investments, with six mines in production 
and a further two expected to be producing within 24 months. The Company has 
also completed or announced four successful exits, including Avanco Resources 
which owns one of the highest grade open-pit copper mines and was sold to Oz 

Michael W. Scherb, Founder and CEO of Appian, commented:

"We are incredibly pleased to have closed Fund II, reaching our hard cap with 
the fund oversubscribed, and appreciate the support for our unique operating 
model and investment approach. Our Tier 1 investors value our combination of 
technical and financial expertise that allows us to identify, acquire and 
develop undervalued assets. Meanwhile, our management teams benefit from our 
long-term capital and support in enhancing their development plans to boost 
returns. Fund II is well positioned to benefit from its exposure to high growth 
segments of the global economy, through commodities that will enable the 
transition to a low carbon economy and infrastructure development to generate 
strong, risk-adjusted returns."

About Appian Capital Advisory LLP

Appian Capital Advisory LLP is the investment advisor to long-term value 
focused private equity funds that invest solely in mining and mining related 

Appian is a leading investment advisor in the metals and mining industry, with 
global experience across South America, North America, Australia and Africa and 
a successful track record of supporting companies to achieve their development 
targets, with a global operating portfolio overseeing nearly 5,000 employees.

Appian has a global team of 37 investment professionals with offices in London, 
Toronto, Lima, Belo Horizonte and Sydney. 

For more information please visit, or find us on 
LinkedIn [] or 
Instagram [].

Source: Appian Capital Advisory LLP