International private equity firm 3i Group Plc. has appointed Simon Borrows as chief investment officer (CIO) and he will assume office this autumn, according to a company statement on Wednesday. Borrows will replace CIO Ian Nolan, who will be in a new role.
Borrows is currently the chairman of Greenhill & Co International LLP. Prior to this position, he served as the managing director of Baring Brothers International Ltd. He is also a non-executive director of British Land and Inchcape.
“We are pleased to announce Simon’s appointment as chief investment officer and executive director. He brings a broad range of financial and investment experience and transactional capability, and we look forward to working with him,” said 3i chairman Adrian Montague.
During the first quarter of this year, 3i Group Plc. has made $374.2 million (£233 million) of investment, more than double the amount made in the same period last year, while asset sales soared to $541.58 million (£337 million), from just $126.96 million (£79 million).
3i India is a subsidiary of 3i international Plc., with local presence since 2005. The company has invested in UFO Moviez Pvt Ltd (Mumbai), Siro Clinpharm Pvt Ltd, BVG India Ltd, Vijai Electricals, OOH Media, International Tractors and Krishnapatnam Port Company Ltd.
3i is an international investor focused on private equity, infrastructure and debt management, investing across Europe, Asia and the Americas. In France, 3i has recently invested in Labco (European network of medical laboratories), Vedici (network of private clinics), Trescal (measuring instruments) and WFCI (airline services).