Tuesday, 26 May 2015
Last updated 18 min ago
Apr 9 2012 | 11:15am ET
Private equity firms are all about applying pressure and shaking up boards of directors. Usually, however, they aren't on the receiving end.
3i Group is. The publicly-listed p.e. shop, which has been hounded by activist hedge fund Laxey Partners and others over its discounted share price, said it would add two non-executive directors to its board. The Sunday Telegraph reports that the additions are likely just the first step as chairman Adrian Montague seeks to appease restive shareholders.
"We have been looking over time to bring on new people," Montague told the Telegraph. "What I try to do is bring together a group of people who can intelligently aid the board." Montague said he was focusing on candidates with expertise in emerging markets.
Board members aren't the only new people Montague is looking for: 3i CEO Michael Queen two weeks ago said he would leave the firm as soon as his replacement is found.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…