IFC Teams Up With Appian Capital for $1 Billion Mining Blitz

Appian Capital Advisory, a top mining-focused private equity firm, announced a $1 billion partnership with the World Bank’s private sector arm to back projects mainly in Africa and Latin America.

The International Finance Corp. will provide $100 million to anchor the fund and will raise the rest of the money via its asset management division, Appian’s chief executive officer, Michael Scherb, said in an interview. The new pool of cash will be invested alongside Appian’s current and future funds, he said.

Appian – which has about $5 billion of assets under management – is one of the few ...