Strong support for Appian’s third fund as it secures $2bn
Appian's Fund III has formed a joint venture with Osisko Metals to develop the Pine Point zinc and lead project in Canada.
Despite a challenging fundraising landscape in the private equity sector, Appian Capital Advisory has secured substantial commitments for its third fund (Fund III), which is targeting midtier opportunities in energy transition commodities and precious metals.
An overwhelming response from new, major investors and existing top-tier backers led to the fund’s hard cap being raised to $2.06-billion.
“We are thrilled to have closed Fund III, with very strong support from existing and new investors,” said Appian founder and CEO Michael Scherb.
“Fund III provides exposure to key trends, including inflation protection, the energy transition and the need for an independent and stable supply of critical minerals to support the shift away from oil and gas,” said Scherb.
Fund III is Appian’s biggest fund to date, significantly boosting its total assets under management to about $4-billion. It will build on the successful track records of the first two funds. The $375-million Fund I closed in 2014 and the $775-million Fund II in 2021.
Fund III has already deployed 10% of its capital, securing three investments. These include a joint venture with TSX-V-listed Osisko Metals to develop the Pine Point zinc/lead project, in Northwest Territories, Canada; a partnership with Detronic Energia to develop 62.4 MWp of solar power plants in Brazil; and acquiring majority ownership of the operating underground Rosh Pinah zinc/lead mine, in Namibia.
Investors have also expressed interest in co-investments, Appian says, stating that it would significantly expand Fund III’s capabilities.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...
VISIT SHOWROOM
Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
