Ambrian Capital Sets Up Mining PE Biz

LONDON (Reuters) – Ambrian Capital (AMBN.L) said it has set up a private equity business with a team of three former executives from Glencore, the world’s largest commodity trader, that will focus on investments in the mining and metals sector.

The partners in the new venture are Nicolas Rouveyre, a former Head of the Zinc and Lead Division at Glencore; Jean-Pierre Conrad, chief financial officer of Xstrata (XTA.L) between 1994 and 2001; and Kilian Carrarini, a former member of Glencore’s corporate finance team.

Ambrian Resources, based in Switzerland, will be majority owned by Ambrian Capital.

Ambrian Capital is the holding company of Ambrian Partners, a specialist investment bank, Ambrian Commodities, a metals trader and broker, and physical metals merchant Ambrian Metals.

(Reporting by Julie Crust; editing by James Davey)