Appian closes $775m fund as institutions line up for mining investment
Workers at Avanco’s copper and gold mine Brazil. Image from Appian Capital Advisory.
Appian Capital Advisory has had a busy seven years since the London-based firm raised its flagship mining and metals fund in 2014.
Appian has made nine investments with six mines in production and another two likely within the next two years. The firm has expanded to 37 investment professionals across locations in London, Toronto, Lima, Belo Horizonte and Sydney, overseeing 4,650 employees across its portfolio.
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On Monday, Appian announced a significantly larger fund – $775 million and oversubscribed – which, despite the disruption caused by the pandemic, has already deployed 40% of its capital.