Ropes & Gray advises Cordillera Investment Partners on second fund
Cordillera Investment Partners has held the final closing of its second fund, Cordillera Investment Fund II, with total commitments of USD362 million, bringing the total AUM of the firm to USD648 million.
The fund was oversubscribed and capitalised by endowments, foundations, family offices, and wealth advisors.
Cordillera specialises in unique and less correlated investment opportunities in areas that it believes remain inefficient, misunderstood, and not over-capitalised. The firm has completed investments in various areas including in music royalties, international arbitration, permanent crops and water rights, boat marinas, broadband spectrum licenses, commercial litigation finance, and environmental markets.
In addition to these areas, Cordillera is also pursuing opportunities in various other differentiated strategies that, in its experience, are not well known to most institutional investors. The firm typically invests directly in these assets alongside an operating partner, but at times will invest through other structures such as a co-investment or a specialised fund in which it is the founding investor.
Cordillera was founded by Agustin “Gus” Araya, Chris Heller, and Ashley Marks, who have spent their careers investing in alternative assets while at Makena Capital Management, the Stanford University endowment, and The William and Flora Hewlett Foundation.
“We are excited about the group of sophisticated and like-minded investors we have assembled, which share our philosophy of seeking attractive risk-adjusted returns and diversification by looking at areas of alternatives that are not already overcrowded with institutional capital,” said the three founders.
Ropes & Gray LLP served as fund formation counsel. Cordillera did not engage a placement agent in connection with the formation of the Fund.