SIMON Borrows’ move to fund manager 3i is great news for its shareholders, who gain one of the City’s best-known rainmakers.
Borrows, chairman of Greenhill & Co since 2010 and founder of its European business in 2008, advises the UK’s biggest companies, including G4S, Tesco, Informa, Inchcape and National Express. He has also advised 3i for almost 20 years, including during its 1994 float.
Borrows says he’s keen to get back into the thick of dealmaking.
“3i sees a lot of investment opportunities and that will make this appointment a very interesting role for me,” he told City A.M. “I have got too much energy and interest to be part time at the moment. The appeal of this job was very strong.”
His experience leaves him perfectly placed to address the weaknesses in 3i’s recovery that are slowing its performance and frustrating shareholders. Investors fear that chief executive Michael Queen’s investment strategy is not paying off and the market undervalues it by almost 20 per cent.
Borrows believes 3i can capitalise on a tough environment: “They have a very big opportunity in front of them in the great strength of their platform and international network of businesses.”