With deep knowledge of an individual leader’s experience and skills, it becomes viable to search the market actively for just the right investment opportunity. When financial services and outsourcing expert Akshaya Bhargava joined 3i as a Senior Adviser in 2006, he worked closely with the investment teams to identify companies that would enable his unique skills to add value.
This approach bore fruit within a year, when 3i completed investments in two companies that provide highly-specialised services to the financial sector.
In the first investment, 3i provided growth capital through a minority shareholding in KNEIP, a company that transmits information for the funds industry, and Akshaya joined the Board as a Non-executive Director.
Four months later Akshaya was appointed as CEO of Fulcrum, a leading independent hedge fund administrator. Akshaya was an integral part of the investment team that completed the transaction with surprising speed, having understood the market opportunity and built a strong relationship with the management team.
Fulcrum’s access to new business opportunities and building of the leadership team has continued to develop through 3i’s Business Leaders Network with two key appointments following completion. Jill Considine, a leading figure in financial services, was appointed Chairman and Malcolm Glyn joined Fulcrum as the new CFO.
Related press release: Leading fund administrators Fulcrum Group and Butterfield Fund Services to merge to create an industry leader