Carey Olsen's corporate team in Guernsey has advised Tembo Capital on the launch of its latest fund, Tembo Capital Mining Fund III, which has a fundraising target of $300m.
A Guernsey closed-ended investment scheme, Tembo Fund III will follow a similar investment strategy to Tembo's first two funds, investing in high-quality, undervalued assets owned by mid-tier and junior mining companies.
These opportunities may include exploration ventures, near-term production ventures, royalties, operating mines, infrastructure of metals and mining projects, and services associated with the metals and mining sector.
Working alongside onshore counsel Macfarlanes, the Carey Olsen team advising Tembo on all Guernsey-related corporate and regulatory aspects of the fund's launch and initial fundraising was led by Partner Ben Morgan, assisted by Senior Associate Alex Mauger.
Since its inception, Tembo has invested more than $240m of equity capital in 13 mining companies, and has raised and invested an additional $20m of co-investment equity capital.