Mizuho’s debt arm sold to 3i
PRIVATE equity group 3i is to buy the UK debt management arm of Mizuho, one of Japan’s biggest banks. It is paying £18.3million for the business which has £3.7billion of assets under management.
The purchase of Mizuho Investment Management UK (MiM) will help 3i reduce its reliance on its traditional private equity and infrastructure investment businesses.
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MiM specialises in managing funds raised to invest in debt products. Shares in 3i fell 1½p to 286½p.