Meb Somani is leaving Actis Capital to join Barclays Capital’s natural resource principal investment group.
At Actis, Somani was the head of oil and gas, based in London. He joined the emerging markets-focused private equity firm in 2006 and previously worked for 20 years with Shell and Texaco in engineering and management roles.
Barclays established the natural resource group in 2006 to invest the bank’s balance sheet capital into the natural resources sector globally. The group focuses on growth equity investments in upstream oil and gas, mining, power and renewables sectors. It sits within Barclays Capital, the investment banking division of Barclays Bank.
In 2007, the group joined a consortium of NGP Midstream & Resources and NGP M&R Offshore Holdings in investing $200 million into Imagin Natural Resources, a natural resource company specialising in coal and other diversified mineral investments.
London-based Mark Brown heads the group, which now consists of 16 investment professionals in London, New York and Sydney.