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3i forms new Growth Capital team in US25/01/2007. Source: AltAssets. 
 3i is expanding its growth capital business into the US with the recruitment of nine private equity professionals to form its new US Growth Capital team. The team will be based in the firm's new New York City office.
The founding partners of 3i US Growth Capital are Robin Marshall, Whitney Bower and Ken Hanau. 3i expects to add five more investors to its US Growth Capital team over the course of 2007.
The team will typically invest $20-200m in privately owned businesses in either minority or control deals. The investee companies will typically have an enterprise value of between $50m and $1bn.
Philip Yea, chief executive of 3i, said, 'As a publicly-held private equity firm, our flexible capital structure, international reach, unrivalled sector depth, and extensive portfolio of circa 1,000 companies, offer the resources necessary to bring a unique private equity solution to US mid-market companies.'
The Growth Capital offering builds upon 3i's venture capital presence in the US. 3i's VC partners provide both early and late stage financing to high potential technology companies from its offices in Waltham, Boston, and Menlo Park, California.
3i Growth Capital invests over $1bn every year in businesses across the US, Europe and Asia. Recent growth capital investments include Electrawinds, Benelux, $40m; ACR, Singapore, $200m; NECL, India, $45m; and Giraffe, UK, $20m. Recent realisations include Poliris, France, $455m; and Alimak Hek, Sweden, $310m.
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