Matilda Battersby

Ratings agency Standard & Poor’s has downgraded the UK private equity firm’s credit rating from A- to BBB+, citing a “negative” outlook for the firm amid a sharp rise in leverage and a drop in liquidity.

British pension funds diversified their portfolios by investing 40% more in private equity and 30% more in hedge funds in 2008 over the previous year. Real estate fared less well, however, with mandates dropping by 25%.

The value of deals in the Continental European buyout market has hit a seven year low. Research for 2008 shows it is down 60% from the €108.2bn-worth of deals done in 2007, due largely to the scarcity of debt and disappearance of mega-deals.

Sarah Hogg will retire as 3i’s chairwoman in December 2010 after more than 10 years with the firm. Hogg replaced Sir George Russell as 3i non-executive chairman in 2002 and has held the post for the last seven years, having previously spent four years as a non-executive director at the firm. 3i plans to hire […]

Senior management changes at 3i are set to continue as Tory policy maker Sarah Hogg plans to retire in December 2010.

Paris-headquartered AXA Private Equity has formed a partnership with Italian industrial firm Tozzi Group to invest in Italian wind farms, hydroelectric and solar projects. AXA infrastructure head Mathias Burghardt says renewable energy has a 'bright future'

A 3i-led bid for the UK airport has been retracted amid claims that the £2bn price tag is too steep. Gatwick owners BAA remain confident that they will achieve the asking price and four other private equity bidders are still in the game.

The private equity firm, which manages fashion brands Bench and Hooch, is re-distributing its consumer and leisure investment team. HgCapital is also to close its Amsterdam office.

The private equity firm has sold its 48% stake in the Swedish manufacturing company to private equity firm Ratos.

3i veteran Cressida Hogg has replaced Michael Queen, who took over as 3i's CEO from Philip Yea earlier this week. 3i's infrastructure arm also said it sold a 31% stake in its Infrastructure Investor fund to Barclays for £164m.