LDC appoints 3i's Hague as investment director

LONDON, July 22 Mon Jul 22, 2013 10:49am EDT

LONDON, July 22 (Reuters) - Lloyds Banking Group's mid-market private equity group LDC has appointed former 3i director Gordon Hague to lead its 300 million pound ($458 million) investment in engineering and industrial firms.

LDC said earlier this month it would increase its funding commitment to specialist engineering and manufacturing businesses by 50 percent from the 200 million pounds it targeted for the fund two years ago.

LDC has long been active in the sectors, having completed more than 130 deals in them since it was formed in 1981. It has completed 11 investments in manufacturing and specialist engineering since October 2011, placing equity funding of more than 190 million pounds.

Hague was responsible for the general and industrials market at private equity group 3i, and worked on deals including a 60 million pound investment in data centre business Telecity .

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