3i Group plc (“3i” or “3i Group”) announces today a number of important changes to the leadership of its Infrastructure business.

Cressida Hogg, Managing Partner, will be leaving 3i at the end of March to pursue a senior role outside of the Group.

Phil White and Ben Loomes will be appointed Co-Managing Partners of the Infrastructure business, in charge of portfolio management and strategic development respectively. Phil White will join 3i Group’s Executive Committee. The business’s investment origination and fundraising activity will be led by Neil King, who will become Senior Partner and will also join 3i’s Executive Committee.

Phil joined 3i in 2007, and has 20 years of investment, advisory and financing experience, including from roles at Macquarie, WestLB and Barclays.  Phil has overall responsibility for portfolio management activity.  In this role he works closely with the management teams of the businesses in which 3i’s Infrastructure business invests. He sits on the boards of a number of portfolio companies including Elenia, Eversholt and Oystercatcher’s oil storage companies.

Ben is currently Group Strategy Director and a member of 3i Group''s Executive Committee and Investment Committee with experience across 3i’s Private Equity, Infrastructure and Debt Management investment businesses.  Ben is also a non-executive Director of 3i Infrastructure plc.  Ben joined 3i in 2012 and has been heavily involved in the transformation of 3i Group’s strategy following the strategic review in 2012.  Prior to joining 3i, Ben’s experience included mergers & acquisitions, financing advisory and restructuring, including from roles at Goldman Sachs, Greenhill and Morgan Stanley.  In addition to his new role as Co-Managing Partner of 3i’s Infrastructure business, Ben will continue in his existing role as Group Strategy Director, but will step off 3i Infrastructure plc’s board of directors.

Neil joined 3i in 2005, bringing with him more than 15 years of experience in the infrastructure market, including roles at Innisfree, WestLB and Barclays.  He has been involved in advising on most of the new deals completed by 3i’s Infrastructure business, including leading the investments into Eversholt, Elgin and Dalmore Capital.

Simon Borrows, 3i''s Chief Executive said:

“Today’s announcement represents another important step in the development of our Infrastructure business.  I am sorry to see Cressida leave our business and would like to thank her for her contribution over the years. Her departure provides an opportunity to promote a number of very talented individuals and, in doing so, bring further energy and focus to investment origination and business development.

“Phil, Neil and Ben bring together a wide range of complementary skills and experience, providing a strong combination of capabilities across origination, portfolio management and execution.

“It is a key strategic objective of 3i Group to further grow and develop its Infrastructure business.  In November last year, we announced the completion of our acquisition from Barclays of its European infrastructure fund management business.  This acquisition increased our assets under management by approximately £780 million to close to £2.4 billion and broadened the capabilities and expertise of our investment team, expanding its access to the growing PPP and energy project market across Europe.

“The leadership changes announced today will bring a fresh impetus to the business and further underlines 3i’s commitment to the next stage of development of its Infrastructure platform.”

For further information, contact:

Kathryn van der Kroft, Communications Director
Tel: +44 20 7975 3021

Silvia Santoro, Investor Relations Director
Tel: +44 20 7975 3258