Ali AlTurki, Founder of ECG, and Jean-Raymond Boulle, Chairman of the Jean Boulle Group. Image Courtesy: Energy Capital Group
And strategic investment from Jean Boulle Group
Press Release
London / Riyadh – Energy Capital Group (“ECG”) today announced that Jean Boulle Group (“JBG”), alongside several Saudi institutional investors and a number of family offices, will anchor the launch of its new fund, the ECG Industrial Metals & Services Fund. ECG is also pleased to announce that Jean-Raymond Boulle, JBG’s founder, has agreed to chair the new fund’s Advisory Board.
The ECG Industrial Metals & Services Fund is a c.$300 million private equity fund focused on supporting Saudi Arabia’s industrial transformation in line with Saudi Vision 2030, investing in integrated industrial and mining services that strengthen critical supply chains and support long-term industrial growth. The fund focuses on Saudi-based metals service platforms, positioning metals supply as a reliable, contracted service to the Kingdom’s industrial base. It is led by Managing Partners Ali AlTurki and Jay Hambro.
Jean-Raymond Boulle has a long and distinguished track record in global mineral discovery and development. He has founded four publicly traded mining companies and is best known for the discovery of the Voisey’s Bay nickel-copper-cobalt deposit in Canada. Voisey’s Bay was acquired by Inco for C$4.3 billion in 1996 and is now owned and operated by Vale. After starting his career at De Beers, he has made and developed major discoveries in nickel, copper, cobalt, titanium and diamonds and has listed companies on exchanges in London, Toronto, Sydney and Mauritius.
The investment by JBG and its partners reflects their support for ECG’s team and vision and Mr Boulle has agreed to chair the fund’s Advisory Board, providing access to his expertise and global network.
Jean-Raymond Boulle, Chairman of the Jean Boulle Group, commented:
“I am delighted to partner with ECG and to chair the Advisory Board. The ECG metals team combines deep local knowledge and stakeholder relationships with decades of experience in the global metals and mining industry giving them the skills needed to build a leading services platform. This is an exciting time to be investing in Saudi Arabia’s accelerating industrial transformation and I look forward to supporting ECG’s development.”,
Ali AlTurki, Founder of ECG commented:
“We are very pleased to welcome Jean-Raymond Boulle and his partners as fellow investors in our fund. That Jean has agreed to chair our Advisory Board is an honour and a privilege for ECG. His expertise and global network will further strengthen ECG’s ability to execute at pace and scale.”
Jay Hambro, Managing Partner of ECG Industrial Metals & Services, commented:
“The Kingdom of Saudi Arabia is one of the most exciting regions in the world to be deploying metals and mining investment capital. We are fortunate to have the support of a variety of both domestic and international investors joining us in this programme. I am delighted that Jean-Raymond Boulle will not only become an investor but support our investment strategy by Chairing our Advisory Board.”
About ECG Industrial Metals & Services
Energy Capital Group is a specialist investment and operating platform focused on the acquisition and development of strategic industrial assets in the Kingdom of Saudi Arabia. Following a series of successful investments in earlier funds focussed on the energy sector, ECG has launched the Industrial Metals and Services fund focused on the metals supply chain – from mining through to added value processing. Energy Capital Group brings together a leadership team with a proven track record of originating, developing, and deploying billions of dollars of capital into energy, metals and mining businesses globally.
For more information on Energy Capital Group, please contact:
https://ecgsaudi.com/contact-us/
For more information on Jean Boulle Group, please contact:
Michael Oke Michael@aura-financial.com
Andy Mills Andy@aura-financial.com
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