Private equity giant 3i is continuing to flex its muscles in the debt management space after completing a tie up in the US.
3i has completed a "strategic transaction" with an outfit called Fraser Sullivan, which has gross assets of around £6.9m. The idea is for Fraser Sullivan to build 3i's US debt management platform, leveraging its current market position.
Added to the recent purchase of Invesco's European collateralised loan obligation (CLO) contracts, this deal will leave 3i with £6.5bn in debt management assets under management.
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At 9:53, the stock was down 0.62%. Over the last 5 years 3i shares have lost 80.5% of their value.
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