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Private Equity

Orion Resource Partners closes Mine Finance Fund II at $2.1 billion

Orion Resource Partners announced Friday the final closing of Orion Mine Finance Fund II with more than $2.1 billion in capital commitments.

The fund looks to finance the construction of later-stage mine projects through a combination of debt, equity and production-linked investments, according to a news release from Orion. The previous Orion fund closed at $1.2 billion and was spun out from the Red Kite Group.

Investors in the fund include the $209.7 billion Florida State Board of Administration, Tallahassee; $124.6 billion Washington State Investment Board, Olympia; $27.6 billion Texas Municipal Retirement System, Austin; $13.9 billion Maine Public Employees Retirement System, Augusta; University of Michigan's $11.3 billion endowment, Ann Arbor; and $9.8 billion Arizona Public Safety Personnel Retirement System, Phoenix.