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.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
At 9:53, the stock was down 0.62%. Over the last 5 years 3i shares have lost 80.5% of their value.
BS
-
Will UK inflation rise ahead of BoE meeting?August’s inflation report will be published at 7am on Wednesday, 17 September, one day before the Bank of England’s next rate-setting meeting
-
Thousands of savers with £250k pensions take cash over tax-free money and IHT fearsWith a record £70 billion withdrawn from pensions in the year to March, experts are concerned savers are making knee-jerk decisions without advice that could affect their long term wealth
