June 18 British buyout firm 3i Group Plc
, which is carrying out a major restructuring, confirmed
on Tuesday that the head of its UK private equity operation has
left and that his counterpart in the Nordic region plans to
The Financial Times reported earlier on Tuesday that David
Whileman, partner and managing director of 3i's UK private
equity operations, had resigned last week. It also reported that
Tomas Ekman, head of its private equity operations in the Nordic
region, will leave the company in the next few weeks.
A spokeswoman for 3i confirmed both moves and said that
Ekman's exit was part of the company's restructuring plan. She
said Whileman was joining a smaller UK fund, which is focused on
3i has announced job cuts and is pruning its portfolio as
part of the restructuring under Chief Executive Simon Borrows.
The company's woes stem from heavy investments during the
peak of the buyout market in recent years in companies in mature
or declining markets such as Britain and Spain.