Sentient closes fourth fund at $1.3b

Cayman-based Sentient Global Resources Fund IV included a contribution of $25 million from the GP, as well as from a number of Asian LPs - something which Sentient had not done before.

"We had very strong investor demand for Fund IV" says Nicholas Mead, partner for investor relations at Sentient. "We held the initial close last year at $920 million, which was larger than the size for Fund III. We were able to do this due to the great support from existing LPs."

Sentient, which has a subsidiary office in Sydney, Australia, previously raised $168 million in 2003, $375 million in 2007 and $816 million in 2009 for its first three funds.

A total of 63% of Fund IV's commitments came from Sentient's existing LPs, which include sovereign wealth funds, pension funds, endowments and foundations, family offices and funds of funds from across the globe.

The vehicle has already invested 25% of its capital in 18 investments over the past year.

Another PE firm targeting natural resources - in Southeast Asia at least - is Abraaj Capital, which announced plans last October to invest part of its latest $2 billion fund in related assets in the region. It will particularly focus on copper and tin mines in Indonesia as well as ancillary services tied to mining or agriculture.

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• Topics
• Infrastructure
• Australasia
• Southeast Asia
• Greater China
• Fundraising
• Fundraising
• Infrastructure