Momentum Minerals Secures Additional Investment from Apollo Global
Houston-based mineral rights and royalty company Momentum Minerals LLC has secured an additional equity commitment from funds managed by affiliates of investment management firm Apollo Global Management Inc. The company stated that the funding will support its ongoing mineral and royalty acquisition initiatives throughout the United States.
Formed in 2013, Momentum Minerals was originally also backed by investments from affiliates of Apollo, and is led by Kevin Lorenzen and James Elder (Co-CEOs), who previously served as portfolio managers at Apollo. The company is focused on the acquisition and exploration of royalties, minerals, and overriding royalties across Texas, Oklahoma, North Dakota, New Mexico, Wyoming, Louisiana, and Colorado.
“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,” said Kevin Lorenzen.
NYSE-listed Apollo is one of the largest global alternative investment management firms in the world, with approximately US$331 billion of assets under management as of year-end 2019.