3i Takes Debt Management Biz To US With Joint Venture

Law360, New York (August 2, 2012, 12:26 PM EDT) -- 3i Group PLC will bring its debt management platform to the U.S. under a joint venture with a New York fund manager, continuing a shift away from its private equity business as it cultivates a global debt management foothold, 3i said Thursday.

In the deal, 3i will absorb WCAS Fraser Sullivan Investment Management LLC's $2.5 billion in assets under management to establish a new U.S.-focused subsidiary, 3iDM US LLC. The new unit will allow the U.K. firm to dip into “large and liquid” U.S. credit markets...
To view the full article, register now.