LONDON - The private equity firm Warburg Pincus has hired Peter Kukielski, the former chief executive of ArcelorMittal’s mining business, as it examines potential investments in the mining industry.
Mr. Kukielski will serve as an executive in residence and help Warburg Pincus identify opportunities, with “a view to forming a new mining company,†the private equity firm said.
“The reduction in capital available to the mining sector and greater uncertainty in the commodities environment create a compelling investment environment for experienced operators with available capital and a long-term, patient view,†Mr. Kukielski said.
Mr. Kukielski left the steel and mining giant ArcelorMittal last August after five years as chief executive of its mining operations.
“We believe that there are a number of attractive investment opportunities to evaluate in the mining sector and are pleased to be partnering with such an experienced individual as Peter,†said Somit Varma, a Warburg Pincus managing director.
Warburg Pincus has more than $35 billion in assets under management.
