Mark Murtagh, the head of private equity firm 3i’s North American infrastructure team, has left the firm.
A spokesperson for 3i confirmed his departure.
“I hope to have information to share with you about my next move soon,” Murtagh added, listing the New York office of law firm Mayer Brown as a temporary work space.
3i has decided to withdraw from the North American infrastructure market
The 3i spokesperson said 3i is not withdrawing from the North American infrastructure market and continues to have a North American infrastructure team.
In an email to industry contacts, Bob Stefanowski, 3i’s New York-based chairman and managing partner for North America, and Cressida Hogg, 3i’s London-based managing partner for infrastructure, also confirmed the firm’s intention to remain in the North American infrastructure market.
“We at 3i continue to be excited about infrastructure investment opportunities in North America,” the email said. “3i has c. $3 billion of funds under management dedicated to infrastructure and is very well positioned to invest in this market.”
We at 3i continue to be excited about infrastructure investment opportunities in North America
Stefanowski and Hogg also said that the firm’s infrastructure activities in North America are led by Reginald Chambers, a principal at the firm.
Prior to joining 3i, Chambers was a vice president in the global energy investment banking group at Citi, according to a biography on 3i's website.
3i’s infrastructure team serves as advisor to 3i Infrastructure, a London-listed infrastructure investment company whose investment mandate includes North America. It debuted on the London Stock Exchange in March 2007, raising £703 million and a further £115 million in a subsequent share offering in July 2008.
The infrastructure team also manages the 3i India Infrastructure Fund, a $1.2 billion fund that focuses on the Indian infrastructure market. 3i and 3i Infrastructure have each committed $250 million to the fund.