3i Defends Strategy As Activist Investor Adds To Stake

Law360, New York (March 1, 2013, 4:24 PM EST) -- A vehicle controlled by activist investor Edward Bramson lifted its stake in struggling private equity firm 3i Group PLC to more than 4 percent, the firm said Friday as it defended its turnaround plan in the face of fired-up scrutiny.

Bramson's New York-based Sherborne Investors Management LP ratcheted up its 3i ownership to 4.2 percent, piling onto the 1.6 percent interest the investor acquired alongside broker Jefferies International Ltd. through the course of January, according to 3i.

The activist investor is now 3i's third-largest shareholder. Based...
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