3i announces completion of acquisition of MIM and formation of 3i Debt Management

16 Feb 2011

 

3i today announces the completion of the acquisition of Mizuho Investment Management (UK) Limited ("MIM") from Mizuho Corporate Bank, Ltd. MIM is one of Europe's leading debt management businesses with assets under management ("AuM") of £3.7 billion.

3i's existing debt management activities have been merged with MIM to form a distinct business line, 3i Debt Management ("3iDM"), with a total AuM of c£4.0 billion.

Jeremy Ghose, CEO of MIM, has become Managing Partner and CEO of 3i Debt Management and has joined 3i's leadership team.

Andrew Golding, 3i Banking Partner, has become Managing Director of 3iDM and will have operational responsibility for the team. Andrew formed the Banking team in 2005 and led the establishment of 3i's debt investment activities in 2007. Oliver Drummond Smith and Philip Bennett-Britton, previously of 3i's Banking team, have also transferred to 3iDM.

3iDM's strategy is to grow organically and by acquisition into a global asset manager of scale, supported by 3i's capacity to seed new funds and finance acquisitions. Growth will come from the consolidation of the European and US manager market as well as expansion into new markets, such as India, East Asia and the Middle East, leveraging 3i's long-established international network.

Anil Kohli, 3i Private Equity - Head of Banking, has assumed responsibility for 3i's Banking team, having joined in 2007. The remainder of the team is unchanged and comprises Carlos Aguiar and Markus Ehrler. The Banking team advises the global buyout and growth capital teams on financing for new transactions, provides support to portfolio companies to ensure they have the most effective financing in place, and maintains strong relationships with the financing community on behalf of 3i Private Equity. In the last few months, the Banking team has led Labco's successful €500m high yield bond and has advised on the financing of 3i's recent investments in SMT, OneMed and Amor.

For further information, contact:

Kathryn van der Kroft
Tel:  020 7975 3021

About 3i
3i is an international investor focused on Private Equity, Infrastructure and Debt Management, 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