(Updating to add details on 3i's intentions)
LONDON (Thomson Financial) - AIM-listed venture capital provider B.P. Marsh
& Partners Plc. said London-listed private equity company 3i Group Plc. has
completed a 50 million pound equity investment for a minority shareholding in
the Hyperion Insurance Group.
B.P. Marsh first invested in Hyperion in 1994, and will retain a
shareholding of about 20 percent.
3i said its investment values the insurance group in excess of 120 million
pounds. 3i intends to support Hyperion's growth by expanding both the range of
products it provides and the territories in which it operates through additional
funding.
Founded in 1994, Hyperion focuses on a range of specialist insurances
including Professional Indemnity and Directors' and Officers' Liability through
its subsidiaries: Howden, DUAL and CFC.
David Howden, founder and chief executive of Hyperion, said he expected 3i
to help the company achieve a faster pace of international growth both
organically and through acquisitions.
3i's experience in the financial services sector in the last 18 months
includes investments in British finance consultancy Jelf Group Plc, Singapore's
Asia Capital Reinsurance Group Pte Ltd (ACR) and BestInvest (Broker) Ltd.
It also invested in Bermuda-based funds administrator Fulcrum Ltd., GAIN
Capital Group LLC., a provider of online foreign exchange trading and KNEIP
Communication SA., a Luxembourg-based outsourcing partner to the investment fund
industry.
Alexander.Wessendorff@thomson.com
aw/vlb
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