UK-based 3i Group has transferred European partner and 13-year veteran of the firm Crevan O’Grady from London to 3i’s New York office, as the firm looks to grow its business in North America.
O’Grady, who led 3i’s European telecom, media & technology (TMT) business, was also responsible for running the firm’s consumer sector team. He has also worked on business services and financial services deals for 3i.
“I think the focus will shift from being heavily European origination focused to being heavily North American origination focused,” Crevan told PEO.
Crevan is replaced by partner in the European buyouts team Simon Freer, who now leads 3i’s TMT practice.
“It is a timely move as we seek to grow our business in North America,” managing partner at 3i Ken Hanau said in a statement. 3i has had a private equity business in North America for roughly four years, during which time it has deployed about $900 million of capital.
The firm focuses on growth capital for mid-market companies, making both minority and change of control investments. 3i has also had its eye on infrastructure investments in North America for the last two to three years, but has yet to invest in the sector.
Crevan joins a team of 11 other investment professionals on 3i’s North America team. Prior to joining 3i in 1997, Crevan worked for KPMG, Leeds.