Matilda Battersby
3i veteran Michael Queen will now steer the firm, whose top 50 investments lost £682m in the past nine months. Last year, 3i invested a total of £841m, down dramatically from the £1.8bn the prior year. 3i's share price has plummeted in recent months, this morning losing nearly 4%, giving it a £941m market capitalisation.
A survey of 30 European private equity professionals reveals that more than half of respondents expect to restructure one or more of their portfolio companies in the next 12 months.
The Eastern European-focused alternative asset manager gave its first live online question and answer session, with senior investment executives making predictions for 2009. Last week Apax for the first time used an online video to communicate with investors.
A recent study by BVCA analysed the performance of private equity-owned portfolio companies in the UK and found that they achieved 330% higher returns than the public equivalents. The report includes household names such as Alliance Boots, New Look, Thames Water and Weetabix.
The global private equity firm has made the hire to support its investment advisory activities in the financial services sector.
Oliver Blechner has resigned amid reported rumours of a personality clash at the top.
Twenty-five years after it spun out from 3i, Bernard Fairman's traditional 80s-style venture capital firm has been reincarnated as a forward-thinking, cleantech-focused, alternative asset manager
Shopping centres and commercial property in the UK will plummet in development volume and value, according to CBRE and RICS. The amount of retail space being developed has fallen 40% in the past year, the fastest rate of decline since the 1990s.
The Australian firm, which manages more than 40 shopping malls in its home market, is hoping to invest in Japanese retail and Singapore office space.
Citing a ‘challenging economic climate’ and volatile debt markets, the buyout firm’s listed investment fund wrote down $500m of its private equity co-investments in deals including Harrah’s.