London private equity firm 3i Group plc is establishing a U.S.-based infrastructure business, called North America Infrastructure, to access North American investment opportunities within the sector. The infrastructure sector covers the physical communications, construction, and transportation industries. 3i plans to “build a significant business in this market” and has appointed Rob Collins to lead the initiative as managing partner of the new business.
North America Infrastructure intends to fund investments initially with 3i’s balance sheet and foresees deploying third-party capital at a later date. The U.S. launch follows a successful period for 3i’s European Infrastructure business. The infrastructure business, founded in 1987, invests through four vehicles: 3i Infrastructure plc, Biff LP, Beif II LP, and 3i India Infrastructure Fund. The firm’s infrastructure segment advised 3i Infrastructure plc on new investments of approximately $593 million in its current financial year.