Create leaner organisation with cost base more
closely aligned with the Group's income and
investment strategy.
Focus on intensively managing the existing private
equity portfolio and seeking realisations where
conditions are right to maximise proceeds.
Objective to generate more third-party income over
time through the raising of further third-party
funds.
Overall, improve the business's performance and
maximise value for the Group, its shareholders and its
fund investors.
Vision to be a leading international investor with
three strong investment platforms and to deliver top
quartile cash investment returns over the longer term
- Focused mid-market Private Equity business
- Class-leading Infrastructure investor
- Growing Debt Management business.
Significant organisational change and cost reduction
programme
Greater control, consistency and business focus
through removal of organisational complexity and
re-shaping of the international network.
Improve consistency and discipline of investment
processes and asset management approach, including
implementing an annual vintage control for 3i balance
sheet investments.
Focus new private equity investment primarily in
core Northern European markets and Brazil. Suspend new
private equity investment in Spain and Asia.
Immediate implementation of significant cost
reduction programme to create a leaner organisation and
reduce annual operating costs by over £40 million:
- Headcount reduction of over 160 employees, representing
over a third of the Group
Recommend:
