3i Combines Private Equity Units, Loses Buyout Chief

Sep 20 2010 | 9:41am ET

Private equity firm 3i Group is reorganizing for the future—and top buyout dealmaker Jonathan Russell isn’t a part of it.

The London-based firm said that Russell had resigned as managing partner of buyouts. Russell’s buyout division will be merged with 3i’s growth capital business to form a single private-equity unit. 3i also has an infrastructure division, and is considering launching a debt management business.

“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,” the firm said. “These two activities have increasingly converged in terms of their investment process and the nature of the investors they attract.”

Russell has worked at 3i for 24 years and served on its management and investment committees. His exit follows that in July of Chairwoman Sarah Hogg.

“Having transformed our financial position and improved our performance, we are now organizing the business for growth,” CEO Michael Queen said.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat