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.

Simon Borrows, 3i Chief Executive, said: "This strategic move is further evidence of our commitment to grow further and develop our Infrastructure business and to increase our income from third party assets under management.

"In addition to the significant progress already made in growing our Debt Management business over the past 12 months, this acquisition would represent further progress towards the strategic objectives that we announced in June last year."

The group added that the transaction would demonstrate its commitment to growing its Infrastructure business and reaffirm its objective to increase third-party fee income by growing assets under management.

Looking ahead, it intends to leverage the BIFM platform to bring incremental deal flow to 3i Infrastructure and to raise new funds. The group expects that the asset management fees generated by BIFM will exceed the incremental operating costs.

NR

Recommended

Saga’s figures are heading in the right direction – so should you buy?
Share tips

Saga’s figures are heading in the right direction – so should you buy?

Saga the over-50s travel and financial services specialist, has been struggling for years. But now, with the pandemic behind, it it is planning for fu…
5 Jul 2022
Director dealings w/e 1 July: what company insiders are buying and selling
Stocks and shares

Director dealings w/e 1 July: what company insiders are buying and selling

Directors’ share dealings can often give investors an insight into the sentiment of company insiders. Here are some of the biggest deals by company di…
5 Jul 2022
Britain’s ten most-hated shares – w/e 1 July
Stocks and shares

Britain’s ten most-hated shares – w/e 1 July

Rupert Hargreaves looks at Britain's ten most-hated shares, and what short-sellers are looking at now.
4 Jul 2022
Britain’s most-bought shares w/e 1 July
Stocks and shares

Britain’s most-bought shares w/e 1 July

A look at Britain’s most-bought shares in the week ending 1 July, providing an insight into how investors are thinking and where opportunities may lie…
4 Jul 2022

Most Popular

Ray Dalio’s shrewd $10bn bet on the collapse of European stocks
European stockmarkets

Ray Dalio’s shrewd $10bn bet on the collapse of European stocks

Ray Dalio’s Bridgewater hedge fund is putting its money on a collapse in European stocks. It’s likely to pay off, says Matthew Lynn.
3 Jul 2022
Persimmon yields 12.3%, but can you trust the company to deliver?
Share tips

Persimmon yields 12.3%, but can you trust the company to deliver?

With a dividend yield of 12.3%, Persimmon looks like a highly attractive prospect for income investors. But that sort of yield can also indicate compa…
1 Jul 2022
The income investor’s dilemma
Income investing

The income investor’s dilemma

Pay attention to dividend growth as well as initial yield when picking income trusts, says Max King.
4 Jul 2022