Former fund managers sue 3i
Two former 3i fund managers have reportedly sued the company for ТЃ3.06m each in shares and cash performance bonuses, following the closure of a fund they were hired to run.
Former PartyGaming chief executive Richard Segal, and Stephen Hill, Betfair's former chief executive, were contracted as consultants in 2006 to manage a £400m 3i fund, investing in mid-cap listed equities.
The fund, which was listed on the London Stock Exchange as 3i Quoted Private Equity, was however shut-down in February 2009, and the duo allegedly informed they would forfeit undisclosed outstanding performance payments.
More on UK / Ireland
Inflexion to exit Xtrac in SBO to MiddleGround Capital
Sale of UK-based transmission-systems manufacturer marks Buyout Fund IVтs seventh exit
Federated Hermes raises USD 486m for fifth co-investment fund
Fund surpassed its USD 400m target; its 2018-vintage predecessor raised USD 600m against a USD 350m target
FPE Capital acquires, merges NoBlue and Elevate2
GPтs investment in NetSuite partners marks fifth investment out of third fund
Palatine reaps 6x money on SBO of Anthesis to Carlyle
GP will be reinvesting in UK-headquartered sustainability firm, acquiring a minority stake
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Czech Republic-headquartered family office is targeting DACH and CEE region deals
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Ex-Rocket Internet leader Bettina Curtze joins Swiss VC firm as partner and CFO
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Estonia-registered VC could bolster LP base with fresh capital from funds-of-funds or pension funds