Asset management firm Breakwall Capital and energy and commodities company Vitol have closed their second private credit fund focused on mining and critical minerals.<\/p>\n
Valor Mining Credit Partners II is focused on making structured credit investments in mining and critical minerals companies. It primarily targets event-driven financing opportunities, including debt refinancing, acquisition financing and development capital.<\/p>\n
The firms said the closing of the fund marks the full deployment of Breakwall and Vitol\u2019s inaugural mining partnership, Valor Mining Credit Partners, which deployed approximately $470m (\u00a3355.9m) of capital in under six months.<\/p>\n
Read more:\u00a0Breakwall Capital raises $125m at first close for energy credit\u00a0<\/a><\/p>\n Alongside the fund closing, the partnership has completed its inaugural investment, a $520m term loan financing to Mesabi Metallics Company, backed by the Essar Group. The credit facility will support the development of an American iron ore mine and pellet plant.<\/p>\n \u201cOur continued partnership with Vitol reflects the strength of our collaboration and shared focus on identifying differentiated investment opportunities,\u201d said Christopher Abbate, Jamie Brodsky, and Daniel Flannery the managing partners of Breakwall. \u201cIn mining and critical minerals, we see a significant opportunity to partner with growing companies by delivering innovative, tailored capital solutions to support the next generation of growth.\u201d<\/p>\n The second fund also represents the fourth energy-focused credit partnership between Breakwall and Vitol. Overall, the Valor energy credit franchise has invested more than $2.1bn to support the upstream oil and gas, mining and critical minerals sectors.<\/p>\n