Denham Capital raises $558M to support portfolio expansion in Africa
(Ecofin Agency) - Houston-based private equity firm Denham Capital, specializing in mining, gas and energy sectors, announced it closed a mining fund worth $558 million that will be deployed on several markets including Africa. The fund targets operable or close-to-be exploitable projects.
“The close of our first mining fund marks a significant and strategic milestone for Denham Capital. We are pleased that our limited partners share our belief that there is a robust pipeline of opportunities across the global mining sector,” said managing partner and co-founder Carl Tricoli (photo).
Let’s note that the amount of capital committed to Africa is not specified but markets would surely compete to attract the largest share. Moody’s revealed that China's economy, which drives the global demand for mining resources, is already seeking for other suppliers outside Africa.
Denham is already active in Africa. The firm’s African portfolio include Endeavour, which has projects in Ghana, and the wind energy project with Biotherm. However, these projects are yet to be achieved.