Appian Capital Advisory, the investment adviser to long-term value focused private capital funds that invest solely in mining and mining related companies, has held a final close for its third fund.
Fund III was heavily oversubscribed despite difficult fundraising conditions for the private equity sector, raising its hard cap to $2.06 billion following strong support from both large, new investors and existing top-tier investors globally.
“We are thrilled to have closed Fund III, with very strong support from existing and new investors. 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 Michael W. Scherb, founder and CEO of Appian. “As we continue to see increasing interest in metals and mining, Fund III will build on the successful track record of Funds I and II, deploying our unique operating model