Private equity firm raises $1bn for mining investment
TORONTO (miningweekly.com) – Private investment firm Waterton Global Resource Management on Monday said that its flagship private equity fund, Waterton Precious Metals Fund II had raised total capital commitments of $1.01-billion to invest in the metals and mining sectors.
With Fund II, Waterton Global said that it would generally target production and late-stage development assets in the precious metals sector in politically stable jurisdictions, through acquisitions, joint ventures and partnerships.
The interest that private equity was starting to show in the mining industry suggests that the current adverse climate has opened up a window of opportunity.
"We are grateful for the significant level of support from our investors, who have provided a strong endorsement of Waterton Global's owner-operator business model,” Waterton Global managing partner and chief investment officer Isser Elishis said.
"By combining our disciplined approach to investing, our extensive technical expertise and industry knowledge, and the long-term duration of private equity capital, Waterton Global is uniquely positioned to take advantage of opportunities in the metals and mining space,” Elishis added.
The company said that it was looking forward to acquiring strategic assets and making investments in projects that would complement its current holdings, including gold, silver, platinum-group metals, copper and other base metals.
Atlantic-Pacific Capital, the largest privately owned global placement agent and advisory firm, served as the exclusive global placement agent for Fund II.
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