Mizuho chief to lead 3i’s debt business

Leverage veteran Jeremy Ghose will lead the £4bn 3i Debt Management on a consolidation drive.

Jeremy Ghose, the former chief executive officer of Mizuho Investment Management, will step up to lead the newly instituted debt management business at 3i Group.

3i Debt Management was created through the acquisition of Mizuho’s debt investing arm in a deal agreed in September. The acquisition, which completed this morning, added £3.7 billion (€4.4 billion; $6 billion) in assets under management to 3i’s fledgling debt investment division, which now has £4 billion total assets.

Jeremy Ghose

A veteran of the leveraged buyout markets, Ghose set up Mizuho’s leveraged finance business in 1988, where he led the leveraged buyout, leveraged syndication, mezzanine finance and equity fund activities across Europe, the US and Asia. Under his tenure, the group underwrote $126 billion of debt and managed a portfolio of $20 billion. His title at 3i will be managing partner and chief executive officer of 3i Debt Management.

Andrew Golding, formerly a partner within 3i’s banking team, has joined the new debt management division as managing director and will take operational responsibility for the team. Golding formed 3i’s banking team, which manages the private equity firm’s relationships with the banking community and capital structures for portfolio companies, in 2005. In 2007 he set up the debt investment business.

Oliver Drummond Smith and Philip Bennett-Britton, previously of 3i’s Banking team, have also transferred to debt management.

The strategy for the debt management business is to grow “from the consolidation of the European and US manager market as well as expansion into new markets, such as India, East Asia and the Middle East”, the firm said in a statement Tuesday.