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Origo and Monnis create corporate finance advisory service in Mongolia

Origo Partners has formed a joint venture with Monnis International, one of Mongolia’s largest industrial holding companies, to establish Resource Investment Capital. 

ResCap will provide corporate finance advisory services primarily to companies active in or seeking to enter the Mongolian natural resources sector.
 
Mongolia has vast, largely untapped reserves of bulk commodities and base metals comprising coal, iron ore, copper, gold and uranium. The Mongolian government has recently announced a series of policy measures and infrastructure initiatives designed to unlock this value, including support for both government and private enterprises looking to access international capital markets to meet funding requirements estimated to be in excess of USD25bn.
 
Headquartered in Ulaanbaatar, Mongolia, ResCap will seek to foster long-term, senior-level relationships with clients and position itself as an independent adviser on strategic transactions such as mergers, acquisitions, restructurings, capital raising solutions  and other financial matters. ResCap will offer these services to both Mongolian and international enterprises focused on natural resources and related infrastructure projects.
 
ResCap will begin trading this month subject to receiving appropriate regulatory approvals and will be chaired by Unenbat Jigjid, former Governor of the Bank of Mongolia.
 
Eric Zurrin, formerly of UBS Investment Bank, will be joining the company in due course.
 
On a fully-diluted basis, Origo will own 35 per cent of ResCap, with the balance being held by Monnis, private investors, and the company’s management.
 
Chris Rynning, chief executive of Origo, says: “I am excited about this new partnership with Monnis and about the quality of the team we have assembled. Unenbat Jigjid brings with him a depth of knowledge and a range of contacts in Mongolia’s domestic market that will complement the international experience of the rest of the team. I am confident that with the management team in place, ResCap will play a significant role in the development of Mongolia’s economy as well as contributing to Origo’s strategic goals in Mongolia.”

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