3i Drops $55M On Brazil Eyewear Co. Amid Activist's Scrutiny

Law360, New York (March 8, 2013, 6:21 PM EST) -- Beleaguered private equity house 3i Group PLC led the 108 million Brazilian real ($55 million) purchase of Brazilian eyewear maker Oticas Carol, it said Friday, marking its first buy since an activist investor began bearing down on the firm's buyout strategy in light of weak returns.

The deal brings 3i together with Oticas CEO Ronaldo Pereira, who will beef up his equity stake in the company, as well as asset manager Neuberger Berman Group LLC and another private equity firm, Siguler Guff & Co. LP....
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