SPAIN - 3i director joins Magnum Industrial Partners

Inaki Echave has left 3i's London office to join Magnum Industrial Partners, a Spanish buyout firm recently launched by ex Santander Angel Corcostegui. The firm has begun the fundraising for its first fund, capped at EUR 750m. Echave's work at 3i included the buyout of Chorion PLC last February, a UK-based intellectual property group that owns the rights to Agatha Christie's work amongst others. The investment director is understood to have left 3i because he wanted to move back to Spain.