Organisational Change

RNS Number : 8530S
3i Group PLC
17 September 2010
 



 

3i Group plc announces organisational change

 

3i Group ("3i" or "the Group"), an international investor, announces that it has decided to combine the strengths of its Buyout and Growth Capital businesses to form one integrated Private Equity business.

 

This will mean that 3i has two distinct business lines, Infrastructure and Private Equity. As discussed at the year end, 3i also continues to explore expansion into adjacent areas such as Debt management.

 

The decision to merge the two business lines and run the Private Equity business on a regional model reflects the evolution of the private equity market. These two activities have increasingly converged in terms of their investment process and the nature of the investors they attract. It therefore makes sense to run them as a single unit with a more regional focus. The move to a more regionally focussed Private Equity business will start immediately.

 

Jonathan Russell, Managing Partner Buyouts has decided that now is the right time for him to close a very successful chapter at 3i.

 

Commenting on the move Michael Queen Chief Executive said:

 

"Having transformed our financial position and improved our performance, we are now organising the business for growth. We have the advantage of being strong regionally and our sector teams have been working increasingly together across our buyouts and growth businesses for some time. So this is a logical step and one which we think will make us even more effective in the market.

 

I would also like to thank Jonathan for his outstanding contribution to 3i over the 24 years he has been in the organisation, he will be greatly missed. We wish him all success for the future."

 

 

For further information, please contact:

 

Patrick Dunne, 3i Group Communications Director                         Tel: 020 7975 3566

Philip Gawith, Maitland                                                                      Tel: 020 7379 5151

 

 

About 3i

3i is an international investor focused on private equity and Infrastructure and investing in Europe, Asia and North America. Our competitive advantage comes from our international network and the strength and breadth of our business relationships.  These underpin the value that we deliver to our portfolio, shareholders and fund investors.

www.3i.com

 


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