Leading private equity firm closes first mining fund and seeks

management teams across globe

HOUSTON & PERTH, Australia--(BUSINESS WIRE)--Denham Capital, a leading resources and energy-focused global private

equity firm, today announced that it closed its first stand-alone mining

fund, the Denham Mining Fund, at $558 million to expand its portfolio in

Australia, Canada, South America and Africa.

“The close of our first mining fund marks a significant and strategic

milestone for Denham Capital. We are pleased that our limited partners

share our belief that there is a robust pipeline of opportunities across

the global mining sector and that they chose to work with us,” said Carl

Tricoli, Managing Partner and Co-Founder, Denham Capital. “We are

grateful to have the support of our partners who see value in backing

our plans to expand Denham’s mining portfolio.”

The Denham Mining Fund (Fund) will continue its strategy of partnering

with management teams with proven track records to acquire companies and

assets in the metals and minerals sectors, that are close to or already

in production. The Fund targets investments in base metals,

metallurgical coal, and industrial and specialty minerals in Australia,

Canada, South America and Africa.

“It’s an attractive market where we see in many jurisdictions the

opportunity to secure projects that meet our investment criteria,” added

Bert Koth, Managing Director and Partner, Denham Mining Fund at Denham

Capital. “We seek to partner with local management teams who understand

capital efficiency and can demonstrate edge in accessing opportunity and

execution through their superior technical experience and regional


The closing of the Fund brings the amount of invested and committed

capital under Denham’s management to approximately $9.8 billion. The

firm’s current mining portfolio includes Pembroke Resources, a Sydney

based company pursuing and developing metallurgical coal projects in the

Asia-Pacific region, Auctus Minerals, a Perth-based company developing

base metals assets throughout Australia; Mining Ventures Brazil, a

company currently developing a heavy rare earths project in Brazil;

Pangea Limited, a Johannesburg based African mining platform targeting

and developing projects in several African countries; Santiago Metals, a

Chilean mining venture developing copper mines in Chile; and Stellar

Mining, a mining and exploration company in Peru. The firm announced the

sale of JDS Silver in 2017.

Denham raised the Fund with third-party commitments from institutional

investors globally, representing leading foundations, endowments, public

and private pension funds, sovereign wealth funds and family offices.

Latham & Watkins LLP served as the Fund’s legal counsel and First Point

Equity acted as placement agent.

About Denham Capital

Denham Capital is a leading energy and resources-focused global private

equity firm with more than $9.8 billion of invested and committed

capital across nine fund vehicles and offices in London, Boston,

Houston, São Paulo and Perth. The firm makes direct investments in the

energy and resources sectors, including businesses involving

international power, oil and gas, and mining, across the globe. Denham’s

investment professionals apply deep operational and industry experience

and work in partnership with management teams to achieve long-term

investment objectives. For more information about Denham Capital, visit www.denhamcapital.com.


Pierpont Communications for Denham Capital

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