3i moves into US debt management business
Private equity giant 3i is continuing to flex its muscles in the debt management space after completing a tie up in the US.
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
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Giorgio Armani: the irreplaceable Il Signore
Giorgio Armani started his fashion business in 1975 and built it into the world’s largest private luxury brand. Where can it go without him?
-
A strange calm in credit
Corporate bond markets remain remarkably relaxed, with yields that offer little compensation for risks