Denham Capital raises $558m

The US-based private equity firm closed its first mining fund.

Denham Capital has raised $558 million for its first stand-alone mining fund, the Denham Mining Fund.

The energy and resources-focused firm raised the capital from global institutional investors including foundations, endowments, public and private pension funds, sovereign wealth funds and family offices.

The fund targets to acquire companies and assets in the metals and minerals sectors, which are close to or already in production. It will be invested in base metals, metallurgical coal, and industrial and specialty minerals in Australia, Canada, South America and Africa.

The close of the fund brings the amount of invested and committed capital under Denham’s management to nearly $9.8 billion.