Deals

3i strengthens infrastructure team

European private equity firm 3i has appointed four partners to expand its infrastructure team to seven.

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London-listed private equity firm 3i has appointed Neil King, Dougie Sutherland, Alistair Ray and Angela Roshier to its infrastructure team.

King joins 3i as a partner, having previously worked at Innisfree, an independent PFI investment fund and at WestLB, where he ran the London infrastructure team. Sutherland also joins as a partner, having previously worked at Lend Lease, Amey Ventures and for HM Treasury.

Ray joins as a director, having spent eight years transacting equity investments in infrastructure with British Linen Bank, Edison Capital and Noble Fund Managers. Roshier, formerly at Actis, has joined 3i as an associate.

The infrastructure team, which now totals seven professionals, invested £150 million (€221 million; $265 million) in I², a joint venture fund established by Barclays Private Equity and SG Corporate & Investment Banking, in July 2005.

Following 3i’s investment, the fund reached £450 million, making it the largest equity fund within the secondary PFI market, according to 3i. The fund offers investors access to project companies receiving long-term government-backed low volatility income streams, and has built up a portfolio of 29 operating infrastructure projects in the health, education, transport and MOD sectors.