Business
Completion of acquisition
Completion of acquisition.
About this update from 3i Group Plc
[{"type":"text","content":"\n \nRNS Number : 6584S 3i Group PLC 11 November 2013 \n \n\n11 November 2013\n \n3i announces the completion of the acquisition of Barclays Infrastructure Funds Management Limited\n \n3i Group plc (\"3i\") today announces the completion of the acquisition from Barclays Bank plc of Barclays Infrastructure Funds Management Limited, its European infrastructure fund management business.\nThe business currently manages two active unlisted funds that invest in UK and European PPP and energy projects and has assets under management of approximately £780 million.\nBarclays Infrastructure Funds Management Limited will be renamed 3i BIFM Limited (\"3i BIFM\") and will be incorporated into 3i's existing infrastructure investment business led by Managing Partner Cressida Hogg. 3i BIFM's activities will continue to be led by Nigel Middleton and Andy Matthews who along with Stéphane Grandguillaume will join as Partners in 3i's infrastructure business. The 22-strong team will be based at 3i's offices in London and Paris. \nThe completion of this acquisition represents a significant milestone in the implementation of 3i's strategy, demonstrating 3i's commitment to the growth of its infrastructure business and reaffirming its objective to increase third-party fee income by growing assets under management. 3i intends to leverage the enhanced platform to bring incremental deal flow to 3i Infrastructure plc and raise new funds. The acquisition will broaden the capabilities and expertise of 3i's infrastructure investment team, expanding its access to the growing PPP and energy project market across Europe.\n \n-Ends-\nFor further information, contact:\n \n\n\n\n\nSilvia Santoro\nInvestor Relations Director\n\n\nTel: +44 20 7975 3258\nEmail:[email protected]\n \n\n\n\n\nKathryn van der Kroft\nCommunications Director\n\n\nTel: +44 20 7975 3021\nEmail:[email protected]\n \n\n\n\n\n \n \nAbout 3i Group\n3i is a leading international investor focused on mid-market private equity, infrastructure and debt management across Europe, Asia and the Americas. For further information, please visit: www.3i.com.\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQDMMMMVMFGFZG\n ","length":3376,"tagName":"div"}]