Penny Gets Hitched, Will Advise Investment Firm on Mining

(IDEX Online News) - Former De Beers CEO Gareth Penny has joined investment firm TowerBrook Capital Partners L.P. as a senior adviser, the firm said on Wednesday. Penny announced his departure from De Beers in July, and the company is yet to appoint a replacement, more than seven months later.

Penny “will help the firm to explore and develop investment opportunities across the global mining and minerals industry, with a particular emphasis on identifying opportunities where his deep mining industry insight and strategic, operational and marketing expertise can transform the value of the acquired businesses. These investment opportunities may include mining operations, downstream assets and service providers to the industry,” the firm said in a release.

Gareth added he is “confident that in the months ahead we will find compelling investments where we can add great value. TowerBrook has a strong track record of strategic industry appointments and I look forward to building upon that impressive record.”