3i Group makes offer to acquire Barclays infrastructure business

3i Group has made an irrevocable offer to Barclays Bank to acquire Barclays Infrastructure Funds Management (BIFM), its European infrastructure fund management business, in what would be a 'significant milestone' for the group.

3i Group has made an irrevocable offer to Barclays Bank to acquire Barclays Infrastructure Funds Management (BIFM), its European infrastructure fund management business, in what would be a 'significant milestone' for the group.

BIFM has assets under management of approximately £780m and an investment team based in London and Paris. It currently manages two active unlisted funds that invest in UK and European PPP and energy projects, which 3i believes would complement its current European infrastructure product offering, which is focused on core infrastructure, investing through 3i Infrastructure. The acquisition would not affect 3i's existing advisory agreement with 3i Infrastructure.

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