Private equity firm 3i has transferred Crevan O’Grady, one of its European partners, from London to its North American office. O’Grady led the Yellow Brick Road transaction, purchasing three small telephone directories providers, merging them and then selling them for around €600 million. 3i also announced that two new senior associates, Evan Klebe from The Wharton School at the University of Pennsylvania and Michael Tai from Harvard Business School, have joined the firm.
3i, an international investor, announces that one of its European partners, Crevan O’Grady, has transferred to 3i North America from its London office, effective September 1, 2010.
Crevan brings more than 13 years of private equity experience to 3i North America. Since joining 3i in 1997, he has played a leading role in the development of the group’s European Telecom, Media & Technology (TMT) business and has also worked on Consumer, Business Services and Financial Services deals. His strength is building significant international groups; he is probably best known for leading the Yellow Brick Road transaction where three small companies providing telephone directories were bought and merged and with improved management, cost reductions and growth through acquisition across Europe was eventually sold to give net proceeds of approximately €600 million.
“We are pleased to welcome Crevan to 3i North America,” said Ken Hanau, Managing Partner, 3i North America. “His appointment underlines how we are able to use the experience contained in our global network to develop and build out our presence in local markets. It is a timely move as we seek to grow our business in North America.”
“I am delighted to be moving to North America,” said O’Grady. “I believe the market now offers great opportunities to create new, thriving businesses for 3i and our investors and I look forward to working with the team in New York.”
3i North America makes private equity investments in profitable and growing middle-market companies which can benefit from access to 3i’s international network and deep sector expertise. In North America the firm focuses primarily on the Industrial, Business Services and TMT sectors. Its North American investments include Quintiles Transnational, MoldMasters, GAIN Capital and Phibro Animal Health. 3i has $14.5 billion assets under management and has invested more than €30 billion since 1945.
Two New Associates Named
3i also announces that two senior associates have joined the firm, further bolstering the North America team. Evan Klebe joins from The Wharton School at the University of Pennsylvania where he gained an MBA. He previously worked at Lindsay Goldberg, and at Morgan Stanley as a private equity and investment banking analyst. Evan received a BA from Harvard University. Michael Tai joins from Harvard Business School. Previously he worked at General Atlantic Partners and at Morgan Stanley as an analyst in their investment banking division. Michael received a BA from Columbia University.
Notes to Editors
3i is an international investor focused on Private Equity and Infrastructure, investing in Europe, Asia and North America. Our competitive advantage comes from our international network and the strength and breadth of our business relationships. These underpin the value that we deliver to our portfolio, shareholders and fund investors.