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3i wraps up Barclays Infrastructure Funds Management buy.


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

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Publication:M & A Navigator
Date:Nov 11, 2013
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