Private Equity Firm Goes Public (Investing, That Is)

U.K. private equity giant3iis looking to make a big splash by investing in public companies. The London-based firm is gearing up to cash in on what it claims is a sector with a market capitalization approaching $100 billion – small- and mid-sized publicly listed European companies. The idea, according to Financial News, is to acquire “influential stakes” in the companies -- consumer and industrial ones, for starters -- and offer them “private equity-style management.” 3i CEOPhilip Yeawaves off any suggestions that the new division smacks of an activist hedge fund, drawing a distinction by tellingFN, “They tend to spend their time militating for change, whereas we will be a supportive shareholder against an agreed agenda that we will stick with.” The venture comes with an all-star cast:Bruce Carnegie-Brown, currently an independent non-executive director atClose Brothers Groupand former CEO ofMarshand a bigwig atJPMorgan Chase’s欧洲债务资本市场usiness, will head the group’s management committee. He will be joined by Stephen Hill, former CEO ofBetfairandFinancial Times;Richard Segal, previously head ofPartyGaming; and 3i’s own buyout veteranAlan McKay