3I PRIVATE EQUITY TEAM CHANGES
(The following press release from 3I was received by e-mail. It was not confirmed by the sender.)
3i Private equity team changes
19 June 2013
3i announces that Fredrik Karlsson and Mattias Eklund will become co-heads of 3i's Nordic team from 1 July. Tomas Ekman will be leaving 3i following the successful completion of the disposal of Xellia. This management change is the final step in restructuring 3i's Nordic team down from a four partner group to a two partner group in line with 3i's strategic review.
3i also confirms that David Whileman has resigned and will be leaving the group to join a smaller private equity organisation with a focus on minority investing. David's background has been in growth capital investing.
Over the last 12 months, 3i has restructured its Private Equity team with the aim of creating a team better aligned with the market opportunity across Northern Europe, North America and Brazil and a more manageable portfolio of investments. The Private Equity team now comprises 17 partners and there has been one unplanned partner resignation during this period.
Over the last 12 months, the performance of the Private Equity team has been very strong with a gross portfolio return of 19.7% and realisations of £575m at a realised profit of £190m over opening book value in the year to 31 March 2013.
For further information, please contact:
Kathryn van der Kroft 3i Group plc
T: +44 20 7975 3021 E: firstname.lastname@example.org