Finance > Project-finance

"We are pleased with the extraordinary level of support"

Orion Resource Partners says it has locked in US$2.1 billion for a second fund to offer alternative finance to later-stage resource sector projects.

Staff reporter

Finance > Project-finance

"We are pleased with the extraordinary level of support"

Orion Resource Partners says it has locked in US$2.1 billion for a second fund to offer alternative finance to later-stage resource sector projects.

Staff reporter

"We are pleased with the extraordinary level of support"

Orion locks in US$2.1 billion finance fund

Orion said it had closed its Orion Mine Finance Fund II on more than $2.1 billion of capital commitments.

"The demand for our fund underscores the capability of our team and our differentiated strategy and we are pleased with the extraordinary level of support that we received from such a prestigious group of global investors," New York-based CEO and chief investment officer Oskar Lewnowski said.

It said limited partners included leading sovereign wealth funds, public and private pension funds, endowments and foundations, fund of funds, and family offices.

Fund II is the successor to Fund I and Fund I-A, and Orion said it would continue the company's strategy of financing the construction of later-stage mine projects through a combination of debt, equity and production-linked investments, such as royalties, streams and offtakes.

Orion said Fund II had completed six platform investments with nearly $830 million committed to date.

One of Orion's largest, recent deals was a $225 million gold prepay, stream, equity and offtake deal in May last year with Lundin Gold (CN:LUG), as part of a $400-$450 million financing agreement to get Lundin's Fruta del Norte project underway in Ecuador.

 

 

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