Waterton's second private equity mining fund closes at US$1 billion

Canadian private equity firm Waterton Global Resource Management has wrapped up a new partnership earmarked for deals in the metals and mining industry. The firm’s second fund, Waterton Global Precious Metals Fund II, closed at just over US$1 billion. The partnership was oversubscribed, with a small group of institutional LPs – primarily endowments, pension funds and sovereign wealth funds – committing large individual sums, said Isser Elishis, the Toronto-based firm’s managing partner and CIO. As a result, Waterton Fund II raised 33% more than its US$750 million target.

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