British private equity group 3i‘s US debt management arm has raised a $500 million fund to invest in corporate debt and loans to back private equity buyouts, writes Reuters. The collateralised loan obligation fund, Jamestown II, is 3i Debt Management US’s second since it was established in August last year as a joint venture with US fund manager WCAS Fraser Sullivan Investment Management.

British private equity firm 3i has sold plastic equipment maker Mold-Masters to US rival Milacron for 615 million pounds ($963 million) as part of its debt-reduction disposal plan, writes Reuters. Under pressure from frustrated shareholders to cut its 1.2 billion pound debt to less than 1 billion pounds by June, 3i had said it will focus on asset disposals to achieve this goal and boost its weak share price.

British private equity group 3i said on Monday its head of Asia operations Anil Ahuja and a senior India executive will be leaving the company, writes Reuters. Samir Palod has been named head of the India team.

Find out what’s been happening over the weekend with the latest links including the latest on Mithril Capital’s first fund, 3i’s head of Asia operations leaving the firm and NEA to open a Boston office within six months.

This morning find out what private equity’s comeback plan is, if it indeed needs one, how much Boston biotech has raised in offerings and what the lowdown is on 3i’s restructuring plans.

Hamilton Lane, the Bala Cynwyd, Penn.-based private equity asset management firm, has hired Paul Waller as a partner in its London office. Waller recently retired from 3i after 35 years.

Global private equity asset management firm Hamilton Lane is expanding its Europe-based presence with the addition of Paul Waller to the newly-created role of partner in its London office. Waller recently retired as a managing partner from 3i after 35 years and will focus primarily on client development and overall firm marketing initiatives.

This Wednesday morning First Read brings you a map of the New York PE cluster, reveals 3i is close to its second Brazilian deal and unveils some hungry food start-ups.

This week peHUB is highlighting a position at global investment management firm Partners Group. The firm is advertising on its website for a junior investment manager private equity based in São Paulo, Brazil.

3i-backed SLR Management, an environmental consultancy, has acquired GSS Environmental. GSS is an Australian provider of environmental consulting and project management services to clients in the mining, minerals, land development and natural resource sectors.