3i infrastructure head Hogg to leave for Canada pension giant


exit sign_sqUK private equity firm 3i Group is set to lose its infrastructure head Cressida Hogg to the Canada Pension Plan Investment Board at the end of the month.

Hogg will be replaced by Phil White and Ben Looms, who will become co-managing partners of the infrastructure business in charge of portfolio management and strategic development respectively.

Neil King becomes a senior partner in charge of dealmaking and fundraising.

Hogg helped launch 3i’s move into infrastructure investment in 2005 having been with the firm for a decade.

3i chief executive Simon Borrows said, “I am sorry to see Cressida leave our business and would like to thank her for her contribution over the years.

“Her departure provides an opportunity to promote a number of very talented individuals and, in doing so, bring further energy and focus to investment origination and business development.

“Phil, Neil and Ben bring together a wide range of complementary skills and experience, providing a strong combination of capabilities across origination, portfolio management and execution.

“It is a key strategic objective of 3i Group to further grow and develop its Infrastructure business.

“In November last year, we announced the completion of our acquisition from Barclays of its European infrastructure fund management business.

“This acquisition increased our assets under management by approximately £780m to close to £2.4bn and broadened the capabilities and expertise of our investment team, expanding its access to the growing PPP and energy project market across Europe.

“The leadership changes announced today will bring a fresh impetus to the business and further underlines 3i’s commitment to the next stage of development of its Infrastructure platform.”

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