Listed infrastructure investment fund, 3i Infrastructure, yesterday announced that its investment adviser, 3i Investments, a wholly-owned subsidiary of 3i Group, has made changes to the leadership of its infrastructure business.
3i Group has announced that Cressida Hogg, Managing Partner, will be leaving 3i at the end of March to pursue a senior role outside of the 3i Group.
Hogg, 44, is leaving for the Canada Pension Plan Investment Board, the investment arm of the country's largest retirement fund, according to sources. Hogg joined 3i in 1995 from JPMorgan Chase & Co. and helped start the company's push into infrastructure business in 2005.
Phil White and Ben Loomes will be appointed Co-Managing Partners of the Infrastructure business and Neil King will become Senior Partner. Phil White and Neil King will also join 3i's Executive Committee.
3i Infrastructure's board is fully supportive of these new arrangements. The new leadership team, which includes long-standing members of the team, will provide continuity in strategy and execution for 3i Investments.
Peter Sedgwick, Chairman, 3i Infrastructure plc, said:
"The Board has worked closely with Phil White and Neil King since 2007, and has built a strong relationship with them. They have been key to the Company's strong performance since its IPO in 2007. Ben Loomes has been a member of the 3i Infrastructure Board for the past seven months and in this period has already made a valuable contribution. We are confident that they will provide new impetus and insight in their new roles. We would also like to thank Cressida Hogg for her significant contribution to the Company."