New appointments to 3i’s Infrastructure team
3i today announces the appointments of Bernardo Sottomayor, James Dawes and Chris Rowland to senior roles within its Infrastructure business.
Bernardo joins 3i on 12 October 2015 as a Partner and will focus on origination and execution of new investments across Europe, principally economic infrastructure businesses. Bernardo was most recently a Partner at Antin Infrastructure which manages funds investing in infrastructure opportunities across Europe. Prior to Antin, Bernardo was Managing Director, Head of Acquisitions for Deutsche Bank’s European infrastructure fund. His prior experience was in utilities, as Head of M&A at Energias de Portugal, and in infrastructure advisory with UBS and Citigroup.
James joins 3i in January 2016 as Chief Financial Officer in planned succession to Stephen Halliwell. James is currently a divisional finance head in Legal & General Investment Management. James has been with Legal & General Investment Management since 1997 in a variety of finance roles including as Finance Director of LGV Capital, Legal & General’s private equity business.
Chris Rowland will be joining 3i’s Infrastructure team as Strategy Director. Chris is currently a Director at PwC and part of the Financial Decisions & Analysis team. Prior to this, he spent four years at Lend Lease Europe where he established, and subsequently led, the Corporate Finance team.
In addition, 3i’s Infrastructure investment team has been bolstered recently with new hires Adrien Delmotte and Paolo Bergamelli as Associates in Paris and London respectively. Adrien joined 3i from Société Générale and Paolo joined from UBS.
3i’s Infrastructure business, which had assets under management of approximately £2.5bn as at 31 March 2015, invests across economic infrastructure businesses, primary PPP (“Public Private Partnerships”) and low-risk energy projects, in developed markets with a focus on the UK and Europe. The business performed strongly in the financial year to 31 March 2015 with a gross investment return of 20% on the opening portfolio. Over the past 6 months, the team has completed a major divestment and three new investments on behalf of 3i Infrastructure plc:
- Sale of a 33% interest in Eversholt Rail, generating net cash proceeds of £365 million;
- £111 million investment in a 50% interest in the Danish company ESVAGT, a leading provider of emergency rescue and response vessels and related services to the offshore energy sector, in and around the North Sea and the Barents Sea;
- £53 million investment in a 45% interest in each of Oiltanking Terneuzen B.V. in the Netherlands and Oiltanking Ghent N.V. in Belgium, acquired from Oiltanking GmbH; and
- £23 million investment in a 50% interest in the West of Duddon Sands Offshore Transmission Owner project in the UK.
Ben Loomes and Phil White, Managing Partners and Co-heads, Infrastructure, commented: “Following the strong performance of 3i’s Infrastructure business over the past 18 months, we continue to see good opportunities for new investments and to develop the business strategically. We are therefore delighted that Bernardo, James and Chris are joining our team. They are high calibre professionals who bring substantial experience and knowledge in their respective areas and we very much look forward to working with them. We would also like to thank Stephen Halliwell for his valuable contribution to our business over the past 8 years and wish him well for the future.”
For further information, contact:
3i Group plc
Kathryn van der Kroft
Tel: +44 20 7975 3021
Notes to editors:
About 3i Group
3i is a leading international investment manager focused on mid-market private equity, infrastructure and debt management. 3i’s principal investment markets are northern Europe and North America. For further information, please visit: www.3i.com.
About 3i’s Infrastructure business
3i is a leading European infrastructure investor, with a track record of investing in infrastructure since 1987. The current team of approximately 30 investment professionals advises and manages a number of infrastructure investment vehicles, including 3i Infrastructure plc and two PPP-focused funds, BIIF and BEIF II.
3i Infrastructure plc (“the Company”) is a Jersey-incorporated, closed-ended investment company, listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission. The Company is a long-term investor in infrastructure businesses and assets. The Company’s market focus is on economic infrastructure in developed economies, principally in Europe, in the utilities, transportation and energy sectors, investing in operational businesses which generate long-term yield and capital growth. 3i Infrastructure also has investments in social infrastructure and is building its exposure to primary PPP and low risk energy projects.