3i man to launch new private equity house

FORMER 3i director Phil Greves is to launch a new private equity house in Yorkshire.

Mr Greves, a former director of 3i’s European buyout business in Manchester, has been appointed by Elysian Capital to open its first office in the north of England.

Elysian Capital specialises in investing in the mid-market in the UK with deal values between £10m to £70m and is focused on management buy-outs and buy and build opportunities.

Chief executive Ken Terry said its target is “to become the leading private equity player in the UK lower mid-market”.

It made its first investment in March this year – into a landscaping company in Newbury, Berkshire.

3i is one of Europe’s largest private equity houses – and has invested more than £3.5bn supporting businesses.