GNRI has announced that it has agreed to acquire Barclays Natural Resource Investments from Barclays Bank PLC (“Barclays”).

The deal, through a management buy-out, will form a new, independent, private equity firm, GNRI, which will build on the existing management team’s strong expertise and proven track record in successfully 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.

Latham & Watkins advised GNRI on the transaction, with a London-based private equity team led by partner David Walker and senior associate Gary Brown. Advice was provided on fund matters by London partners Nick Benson and Tom Alabaster, with associate Dan Mathias; on  IP matters by associate Deborah Kirk; on tax matters by partner Sean Finn; and on employment matters by Catherine Drinnan.