[Context: On September 15, Momentum Minerals announced additional equity commitment from Apollo Global. The company is a mineral and royalty acquisition fund. Further details and related links are below.]
Momentum Minerals Announces Third Round of Funding
HOUSTON–September 15, 2020–BUSINESS WIRE)–Momentum Minerals, LLC (“Momentum” or the “Company”), a premier mineral and royalty acquisition fund, today announced the recent close of an additional equity commitment from funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (together with its subsidiaries, “Apollo”). This marks the latest equity commitment in Momentum management’s long-standing relationship with Apollo and its affiliates that started in 2013.
Kevin Lorenzen, Co-CEO of Momentum, said, “We are excited to continue our strategic relationship with Apollo and believe we are well positioned to accelerate the growth of our minerals and royalties portfolio. We are actively evaluating new acquisition opportunities in the current market.”
James Elder, Co-CEO of Momentum, added, “Working with Apollo, we are poised to maintain our competitive presence in the minerals marketplace and enhance our capability to invest in deals across the value spectrum.”
Momentum will use the new commitment to support the Company’s ongoing mineral and royalty acquisition initiatives throughout the United States, capitalizing on current market opportunities.
Christine Hommes, Partner at Apollo, said, “We are thrilled to continue working with Kevin, James and the Momentum team. Momentum has demonstrated an exceptional ability to identify, source, acquire and manage mineral assets capable of generating attractive returns.”
Momentum is a premier mineral and royalty acquisition fund headquartered in Houston, Texas. Momentum acquires royalties, mineral rights, and overriding royalties across the United States.