Global Natural Resource Investments (GNRI) has been launched through a management buyout from Barclays. GNRI agreed to acquire Barclays Natural Resource Investments from Barclays Bank PLC, forming a new, independent, private equity firm.
GNRI will build on the existing management team’s record in managing natural resource investment opportunities globally over the last nine years.
Barclays will not be selling any of its existing investments as part of the acquisition. An investment advisory mandate between GNRI and Barclays has been agreed under which GNRI will continue to administer the existing investment portfolios of Barclays and GNRI’s other investment partners.
The GNRI business has historically committed more than $3 billion of equity and is currently advising on $1.7 billion of capital commitments and 15 existing portfolio companies. GNRI currently has undrawn capital commitments in excess of $800 million.
The GNRI business will operate out of a UK office in London and a Qatar office in Doha.