Shaw and Partners is pleased to be appointed as Joint Lead Manager to the proposed capital raising by Tribeca Financial Global Natural Resources Fund.

Fund manager Tribeca’s seeking to capitalise on rising demand for commodities with a $50 million raising for its ASX-listed Tribeca Global Natural Resources.

It is understood Tribeca has hired a syndicate of brokers to offer new shares at $2.10 each by way of a placement and rights issue.

The deal’s expected as early as Wednesday and comes as Tribeca has been telling investors that the outlook for commodity prices and producers has rarely looked better.

The managers’ thesis is pretty simple: a decade of underinvestment across most commodities has created a demand/supply problem, with low levels of inventory around the world.

China’s decision to re-open to the world post its recent new year is seeing commodity consumption pick up, and Tribeca obviously reckons it’s the right time to be raising and deploying capital into the market.

Tribeca’s portfolio gives a hint as to where it will look to put its newly raised funds. Its major holdings include US-listed Freeport McMoran, the world’s largest copper producer, and Alcoa, the largest aluminium producer, along with the likes of Glencore and Teck Resources.

Article source: AFR, 22 February 2022

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