Macfarlanes has advised Tembo Capital Management, an investment advisor in the metals and mining sector, on its third fund, Tembo Capital Mining Fund III LP (Tembo III), which has successfully held a final closing at USD380 million, exceeding its target of USD300 million.
Macfarlanes has advised Tembo Capital Management, an investment advisor in the metals and mining sector, on its third fund, Tembo Capital Mining Fund III LP (Tembo III), which has closed with USD380 million in aggregate capital commitments, exceeding its target of USD300 million.
The fund will focus on metals in tier one mining jurisdictions that are important to decarbonisation and green energy transition efforts, such as copper and nickel.
The fund received commitments from a diverse group of high-quality institutional investors and has already completed three investments with a fourth in the pipeline.
David Street, CEO of Tembo, says: “We are very pleased with the strong support and delighted with the overall investor base in what was a very challenging market for both fundraising and completing investments in the wake of the Covid-19 pandemic.”
The Macfarlanes team was led by investment management partner Chris Good with assistance from solicitor Benjamin Pape. Tax and structuring advice was provided by tax partner James McCredie and solicitor Florence Barnes.
Good says: “We are very pleased to have advised Tembo Capital Management on its fundraising. Given the challenging market conditions, to exceed the target with a diverse group of high-quality institutional investors is an excellent achievement for the team.”
