Sunday, 28 August 2016
Last updated 1 day ago
Feb 28 2013 | 10:56am ET
3i Group CEO Simon Borrows has built himself a tidy stake in his private equity firm.
Borrows, who took over at the London-based firm in May, bought up 2.5 million 3i shares between Feb. 22 and Feb. 26, according to a regulatory filing. The purchases give Borrows 8.2 million shares in 3i, or a 0.8% stake.
Borrows became CEO amidst shareholder frustration over 3i's poor results. Shortly after he took over, he spent nearly £7 million buying up shares, and has been handsomely rewarded, with the stock rising more than 80% since then. He's also received shares as part of his incentive scheme.