Permira partner joins 3i

Former Permira partner Robert van Goethen is joining the listed private equity firm’s Benelux office.

Former Permira partner Robert Van Goethen, 44,  has joined the Amsterdam office of 3i, the London-listed European private equity firm.

The Belgian national joins the buyouts team at 3i and will be a director focused on investments in the Benelux region.
Van Goethen joins the firm following a five-year stint in Permira’s Paris office, where he focused on the retail, chemical and industrial sectors in the French and Benelux markets.

Prior to that he worked for Chase Manhattan Bank in New York, and spent time in London working first at Citibank and later in the leveraged finance team at Saloman Smith Barney (now Citigroup).
He now joins the Amsterdam office, which is responsible for 3i’s Benelux business. The firm has been operating in the region since 1998, and currently has a portfolio of 11 companies.
The office was responsible for last month’s deal in which 3i and its co-investor, the media merchant bank Veronis Suhler Stevenson (VSS), exited their investment in Yellow Brick Road (YBR), the European directories group that they had created through a three-way merger in April 2004.

The company was sold to a consortium led by Australia’s Macquarie Capital Alliance Group for €1.825 billion ($2.3 billion), representing a 4x money multiple and a 110 percent IRR.
In other news, 3i has said that its profits for the year to last March will be 1.75 percent – or £9 million – lower when calculated under the International Financial Reporting Standards. Net asset value, in contrast, will be increased by £75 million.
The firm yesterday held a seminar in London examining what these changes would mean for its investors.