Last checked at 
11 Nov 2013 07:00
11 November 2013
3i announces the completion of the acquisition of Barclays Infrastructure Funds Management Limited
3i Group plc ("3i") today announces the completion of the acquisition from Barclays Bank plc of Barclays Infrastructure Funds Management Limited, its European infrastructure fund management business.
The business currently manages two active unlisted funds that invest in UK and European PPP and energy projects and has assets under management of approximately £780 million.
Barclays Infrastructure Funds Management Limited will be renamed 3i BIFM Limited ("3i BIFM") and will be incorporated into 3i's existing infrastructure investment business led by Managing Partner Cressida Hogg. 3i BIFM's activities will continue to be led by Nigel Middleton and Andy Matthews who along with Stéphane Grandguillaume will join as Partners in 3i's infrastructure business. The 22-strong team will be based at 3i's offices in London and Paris.
The completion of this acquisition represents a significant milestone in the implementation of 3i's strategy, demonstrating 3i's commitment to the growth of its infrastructure business and reaffirming its objective to increase third-party fee income by growing assets under management. 3i intends to leverage the enhanced platform to bring incremental deal flow to 3i Infrastructure plc and raise new funds. The acquisition will broaden the capabilities and expertise of 3i's infrastructure investment team, expanding its access to the growing PPP and energy project market across Europe.
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For further information, contact:
Silvia SantoroInvestor Relations Director | Tel: +44 20 7975 3258 Email:silvia.santoro@3i.com
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Kathryn van der KroftCommunications Director | Tel: +44 20 7975 3021 Email:kathryn.vanderkroft@3i.com
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About 3i Group
3i is a leading international investor focused on mid-market private equity, infrastructure and debt management across Europe, Asia and the Americas. For further information, please visit: www.3i.com.