Printer Friendly

3i wraps up Barclays Infrastructure Funds Management buy.

MANews-(C)2009-2013

11 November 2013 - UK private equity firm 3i Group plc (LON:III) said Monday it had completed the purchase of Barclays Infrastructure Funds Management Ltd (BIFM), the European infrastructure fund management business of Barclays Bank plc.

The buyer unveiled an irrevocable bid of an undisclosed value for the target in May this year.

BIFM, with assets under management of some GBP780m (USD1.2bn/EUR932.1m), manages two active unlisted funds that invest in the UK and European public private partnership (PPP) and energy projects. It will be folded into 3i's existing infrastructure investment business and renamed 3i BIFM Limited, 3i said.

The buyer commented that the acquisition was an important step in its strategy of growing infrastructure business and boosting income from third-party assets under management. The addition will expand the capabilities of its infrastructure investment team and provide the company with better access to the growing European PPP and energy project market, 3i added.Country: UKSector: Banking/Financial ServicesTarget: Barclays Infrastructure Funds Management Ltd (BIFM)Buyer: 3i Group plc Vendor: Barclays Bank plcType: LBOStatus: Closed

COPYRIGHT 2013 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2013 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M & A Navigator
Date:Nov 11, 2013
Words:179
Previous Article:Kazakhmys settles consideration as part of ENRC stake sale.
Next Article:Turkey's OYAK acquires Austrian polymer additives producer Chemson.
Topics:

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters