Appian raises $775m

The London firm has closed its second natural resources fund at its hard-cap.

Fund name: Appian Natural Resources Fund II
Target size: $775 million
Actual size: $775 million
Launch date: February 2019
Stage of fundraising: Final close

Appian Capital Advisory held a final close of Appian Natural Resources Fund II at its $775 million hard-cap, according to a press release from the firm. Capital raised by the vehicle will be used to invest in metals and mining assets in countries that include Mexico, Peru, Australia, Canada, Chile and Brazil.

Fund II surpassed capital raised by its predecessor, Appian Natural Resources Fund, which closed in November 2013 at its $375 million target. The firm received commitments from several institutional investors, including $15 million from Los Angeles Fire & Police Pension System and $100 million apiece from Oregon Public Employees’ Retirement Fund and Texas Municipal Retirement System.