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Alternative Market Briefing

Orion Resource Partners raises $2.3bn for third mine finance fund

Thursday, November 18, 2021

Laxman Pai, Opalesque Asia:

Orion Resource Partners, a global alternative investment management firm specializing in institutional metals investment strategies, announced the final closing of Orion Mine Finance Fund III. Together with co-investments, Fund III raised a total of $2.3 billion.

The previous fund in the series, Orion Mine Finance Fund II, closed at $2.1 billion in 2018.

The fund looks to finance the construction of later-stage mine projects through a combination of debt, equity, and production-linked investments, said a press release from the private equity firm with $8.9 billion under management.

The private equity funds deliver "turnkey" financial solutions to metals companies utilizing a combination of debt, equity and production linked instruments, such as royalties and streams, said the release.

"Fund III has already invested or committed approximately 60% to later-stage investments in base and precious metals and in particular, base metals such as copper, nickel, aluminum, zinc, and others which are key raw materials needed to fuel the energy transition to a clean economy," it said.

"75% of the world's GDP have announced plans to decarbonize within 30 years. Meeting this commitment is impossible without metals" said Oskar Lewnowski, Chief Investment Officer of Orion. Orion expects the incremental investment necessary to meet these targets by 2050 will require nearly a trillion of capital expenditures in the metals sector alone. As one o......................

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