Carey Olsen has advisedAppian Capital Advisory("Appian") on the launch of a US$1 billion fund, Appian EM Fund LP (the "Fund") in partnership withInternational Finance Corporation("IFC"), focused on accelerating the development of critical minerals, metals and mining related projects in emerging markets.
IFC will contribute an initial US$100 million to anchor the Fund, with additional capital to be mobilised by the IFC Asset Management Company. The Fund will invest alongside Appian Natural Resources Fund III and Appian Credit Strategies Fund I, as well as future Appian funds, supporting the development of responsible mining projects that are essential for energy access, economic growth and technological advancements.
The Fund represents IFC's first fund established in partnership with a metals and mining private equity investor. It will target equity, credit and royalty investments which adhere to IFC's ESG and performance standards, meeting or exceeding international best practices in responsible mining. The Fund builds on a ten-year investing relationship between IFC and Appian and is the first mining-focused vehicle established exclusively to invest in emerging markets.
The Carey Olsen investment funds team advising Appian comprised partnerRobert Milner, counselArindam Madhuryya, associateThomas Bulfinand traineeCameron Keys. Carey Olsen has advised Appian on all of its Jersey funds, including most recently on the launch ofAppian Natural Resources Fund III.
Arindam Madhuryya commented: "We are pleased to have advised our long-standing client Appian on the launch of this landmark fund in partnership with IFC. This collaboration shows the high regard with which institutional investors view Jersey as a fund jurisdiction. The Jersey Private Fund regime provides an efficient framework, reinforcing Jersey's position as the jurisdiction of choice for innovative and purpose-driven investments."