Metals trader Ambrian launches buyout division

PRECIOUS metals specialist Ambrian Capital has launched a private equity business focusing on natural resources, spearheaded by three former Glencore executives.

Ambrian Natural Resources will be led by partners Nicolas Rouveyre, Jean-Pierre Conrad and Kilian Carrarini, and will look to buy and sell businesses in the base and precious metals space. The firm will operate from Switzerland and will be majority-owned by Ambrian Capital.

Ambrian chief executive Tom Gaffney, who will oversee the venture, said Ambrian Natural Resources would look to leverage the group’s existing reach in stockbroking and metals trading. “We are delighted that such a strong team of individuals is joining... [They] have extensive experience in mining and metals markets,” he added.

It is understood investors will not be locked in for a specific time period, but will hold liquid equity stakes in a purpose-built vehicle. It is not known how much Ambrian wants to raise for its first round of deals.

A spokesperson said the partners were confident the time was right to begin snapping up companies in the metals industry.