Orion Resource Partners closes Orion Mine Finance II at USD2.1bn
Orion Resource Partners has completed the final closing of Orion Mine Finance Fund II with over USD2.1 billion in capital commitments.
Fund II is the successor fund to Orion Mine Finance Fund I and Orion Mine Finance Fund I-A and will continue Orion's strategy of financing the construction of later-stage mine projects through a combination of debt, equity and production-linked investments (eg, royalties, streams and offtakes). Limited partners in Fund II include some of the world's largest and most sophisticated investors, including leading sovereign wealth funds, public and private pension funds, endowments and foundations, fund of funds, and family offices.
"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" says Oskar Lewnowski, Chief Executive Officer & Chief Investment Officer
The closing of Fund II follows a very active year for Orion. Since the beginning of 2017, Orion has announced the exit of two large Fund I investments, including the Osisko Gold Royalties transaction in July 2017 and the SASA transaction in November 2017. To date, Fund II has completed 6 platform investments with nearly USD830 million committed to investment.
Credit Suisse Securities (USA) LLC, a leading global private equity placement firm, acted as exclusive advisor and placement agent and Ropes & Gray LLP served as fund counsel.