3i trebles buyouts after restructure

first_img whatsapp PRIVATE equity firm 3i Group trebled its buyout investments in the five months to August after a recent shake-up at the firm saw its head of buyouts resign, it said yesterday. Investment in buyouts increased to £236m from £86m in 2009, with overall investments up more than 65 per cent to £257m, 3i said.Realisations from investments sold fell to £129m from £448m in 2009. 3i’s chief executive Michael Queen said the group had made good progress growing the company over the period.Queen has led a number of changes at the firm in recent weeks, merging the buyouts team with the growth capital business that specialises in buying minority stakes in fast growing businesses.The move led to the departure of 3i’s leading dealmaker Jonathan Russell, a 24-year veteran of the firm. 3i also announced a deal for debt management firm Mizuho Investment Management earlier this week, a move designed to bolster the group’s corporate debt investing business, and one which is seen moving the firm further from a buyouts model to a broader asset management business. Meanwhile, high asset prices continue to weigh heavily on new deals, with Queen saying the firm would keep its focused approach, targeting sectors such as healthcare, where the group still sees good value. But Queen added the competition for assets will help 3i sell businesses at attractive prices. Queen said there is strong demand for general industrial companies with a good product range, manufacturing efficiencies and international prospects. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times whatsapp Show Comments ▼ Tags: NULL Sharecenter_img Thursday 30 September 2010 10:17 pm 3i trebles buyouts after restructure Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap KCS-content last_img

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