Chris Rowlands' decision to leave 3i is the latest in a series of senior management changes at the global firm. Rowlands has spent 17 of the past 25 years working for 3i, and twice has been considered by market insiders as a contender for the CEO role.
As we continue to see casualties of the global economic crisis in Asia, it is worth noting that many of the headline private equity victims so far have been Western firms attempting to expand into Asia, writes Jenny Blinch.
The Middle East saw a record-breaking fundraising year in 2008, according to the latest statistics, but fundraising is slow going and some private equity funds are struggling to even reach a first close.
Following on from its debt default in December, the Kuwaiti-government backed financial institution has restructured its management as part of ongoing reform. It is unclear how this affects its private equity activities.