Waterton Raises $725M For Third Precious Metals Fund

Jun 15 2016 | 11:48pm ET

Canadian private equity company Waterton Global Resource Management has closed on its third precious metals fund with total capital commitments of $725 million.

The original target for the new fund was $500 million. 

The new fund, named the Waterton Parallel Fund, provides the resources specialist with additional capital to continue targeting production and late-stage development opportunities in the global precious metals sector, according to the company. 

Waterton concentrates on acquisitions, joint ventures and partnership transactions, of $10 million to $250 million in advanced-stage development assets with key infrastructure in place and within politically stable jurisdictions. 

The company closed its previous fund, Precious Metals Fund II Cayman, LP, with more than $1 billion in commitments in April 2014.  

Well-known global placement agent Atlantic-Pacific Capital served as the exclusive global placement agent for the Waterton Parallel Fund, the company said. 

“We are gratified by the level of support from many of our existing investors in Fund II who have committed new capital to the Parallel Fund, and from new investors who see the merit in our unique multidisciplinary investment platform,” said Isser Elishis, managing partner and CIO of Waterton Global, in a statement. 

Toronto-based Waterton was founded in 2009 and has quickly become a leading mining-focused private equity firm dedicated to developing high quality precious and base metals projects. 

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