3i Chief adds 2.5m shares to stake

Simon Borrows, the Chief Executive of 3i Group, the international investor focused on mid-market private equity, this week bought 2.5m 3i shares in three tranches. The three tranches consisted of 550,000 shares purchased at 308.22p, 374,809 at 312.38p, and 1.6m at 305.84p. Altogether the purchases cost him £7.68m. At the end of January the company posted a 4.8% increase in its net asset value to £2.86 per share during the three months ended December 31st. Gross debt as at December 31st 2012 reduced to £1,212m (September 30th 2012: £1,249m), following early repayments and market purchases of £55m in the quarter. However, macroeconomic conditions continued to be difficult, and this led to some softening of earnings in the period, the group said. Top Director Buys3i Group (III) Director name: Mr Simon BorrowsAmount purchased: 1,575,191 @ 305.84p Value: £4,817,5643i Group (III) Director name: Mr Simon BorrowsAmount purchased: 550,000 @ 308.22p Value: £1,695,2103i Group (III) Director name: Mr Simon BorrowsAmount purchased: 374,809 @ 312.38p Value: £1,170,828Renold (RNO) Director name: Mr Robert PurcellAmount purchased: 500,000 @ 25.00p Value: £125,000Banco Santander SA (BNC) Director name: Ms Isabel Tocino BiscarolasagaAmount purchased: 15,000 @ 490.54p Value: £73,581Craneware (CRW) Director name: Mr Keith NeilsonAmount purchased: 12,800 @ 395.00p Value: £50,560Top Director SellsHiscox Ltd. (HSX) Director name: Mr Bronek MasojadaAmount sold: 206,104 @ 511.00p Value: £1,053,191Hiscox Ltd. (HSX) Director name: Mr Robert ChildsAmount sold: 206,104 @ 510.00p Value: £1,051,130Hiscox Ltd. (HSX) Director name: Mr Stuart BridgesAmount sold: 154,578 @ 510.00p Value: £788,348CSR (CSR) Director name: Mr Chris LadasAmount sold: 87,600 @ 429.66p Value: £376,382New Europe Property Investments (NEPI) Director name: Mr Desmond de BeerAmount sold: 1,701 @ € 5.34 Value: €9,078