3i launches US-based North American infra arm

The UK-listed firm has hired ex-Hastings exec Rob Collins to lead the platform, which will initially make investments in the region from the group’s balance sheet.

3i is setting up shop across the pond at a time when it is seeking to expand its infrastructure investment remit beyond its European roots.

The firm today announced the launch of a North American infrastructure business that will be located in the US and seek opportunities throughout North America. Rob Collins, previously head of global investments in North America and Europe for Hastings Funds Management, will lead the team.

“3i has established an impressive track record of infrastructure investing in Europe,” Collins said, adding that he is excited to “extend the company’s infrastructure activities into North America”.

The team’s focus will be similar to the firm’s approach in Europe, 3i said. The company plans to fund its initial North American investments with its own balance sheet, deploying third-party capital “in due course”.

3i chief executive Simon Borrows said the firm “has the ambition to build a significant business in this market and we are excited to have Rob join us”.

Collins joined Hastings in December 2013 after previous roles at Morgan Stanley, Goldman Sachs and Greenhill Capital Partners. Hastings had not responded to a request for comment regarding his departure at press time.