3i Builds on Financial Services Track Record With Investment in Leading Hedge Fund Administrator, Fulcrum

    NEW YORK, June 29 /PRNewswire/ -- 3i Growth Capital, the world's
 leading growth investor, builds upon its strong financial services track
 record with a $57M investment in Fulcrum Ltd., a leading global hedge fund
 administrator ("HFA").
     3i's investment will fund the growth of the business as well as provide
 liquidity to shareholders, allowing Fulcrum to retain its status as an
 independent administrator while continuing to build the gold standard fund
 administration platform for the hedge fund industry. 3i is well placed to
 partner with Fulcrum at this stage of the firm's growth due to its
 financial services sector expertise and its international reach.
     The funds will help Fulcrum continue to grow revenues and profits
 through an organic increase in funds under administration, new
 middle-office service offerings, and international expansion into Europe
 and Asia. Fulcrum is currently recognized for its market leading client
 service, proprietary technology, and ability to handle complex products and
 structures. The investment from 3i will support Fulcrum's controlled
 expansion enabling the firm to develop a scalable and differentiated fund
 administration model whilst strategically growing employee numbers and
 expanding its operations globally.
     "3i's global network, corporate connections, and extensive experience
 in growing businesses will help Fulcrum achieve its potential," said Glenn
 Henderson, Fulcrum's current CEO. Following the transaction, Mr. Henderson
 will become Chief Sales Officer in an expanded Business Development/Sales
 role. "Fulcrum will retain its independence, delivery model, technology
 platforms, and dedicated client team approach, scaling these attributes
 significantly to continue providing a best-in-class hedge fund
 administration service."
     "Our heritage is in growing significant international businesses, so we
 are thrilled to have the opportunity to build a differentiated company in a
 large and growing market, with strong management leadership," said Whitney
 Bower, Partner, 3i Growth Capital. "Fulcrum, in particular, has an
 attractive business model, a superior-quality proprietary technology
 platform, the ability to support hedge funds' complex strategies, and
 personnel in place to advance operations."
     Akshaya Bhargava of 3i will become Fulcrum's chief executive officer.
 Mr. Bhargava has extensive experience in financial services and has a
 strong track record for growing companies in the business process
 outsourcing (BPO) industry. Mr. Bhargava, who has been working with 3i for
 a year, during which time he identified and led two BPO investments,
 commented: "Fulcrum is an established outsourced service provider of fund
 administration and middle office services and has built high quality
 delivery capacity for new business with production offices in Canada and
 India. I feel that Fulcrum is one of the most exciting companies on the
 market and 3i will be instrumental in leveraging this investment by drawing
 on our direct management expertise and global footprint to augment and
 expand Fulcrum's service offering in Europe and Asia."
     Prior to joining 3i, Mr. Bhargava was the CEO of Progeon, India's
 seventh largest BPO services company (a subsidiary of Infosys), which he
 grew from start-up to a company with $86 million in revenues, over 7,000
 employees and 22 Fortune 500 customers in less than four years. Previously,
 Akshaya spent 22 years in a variety of leadership roles at Citibank
 locations in India, the Czech Republic, and the U.K.
     Fulcrum Limited is a medium size global fund administrator that
 combines leading edge technology with hands-on industry expertise to
 deliver a fund administration service defined by client service, rich
 functionality, robust technology, and automation to managers and investors.
 Fulcrum's model is founded in meeting the needs of the hedge fund managers
 and investors with a centralized approach to fund administration activities
 for the delivery of timely standard and complex net asset valuations and
 other fund administration services.
     3i brings a strong track record in financial services knowledge and
 outsourcing expertise gained from its previous successful investments in
 KNEIP, Travelex, Asia Capital Re, Bouncopy and Williams Lea.
      For further information, please contact:
      Kathryn van der Kroft, 3i Press Office
      Tel: +44 207 975 3021
      kathryn.vanderkroft@3i.com
 
      Lauren Carhart, Ruder Finn
      Tel: +1 212 593 6354
      carhartl@ruderfinn.com
 
      Lisa Jane O'Neil, LJO'Neil & Associates
      Tel: +1 212 786 7629
      lisajane@ljoneil.com
 
     Notes to Editors
     About 3i
     3i is a world leader in private equity and venture capital. We focus on
 Buyouts, Growth Capital, Venture Capital, Infrastructure and Quoted Private
 Equity ("QPE") and invest across Europe, the United States and Asia. Our
 competitive advantage comes from our international network and the strength
 and breadth of our relationships in business. These underpin the value that
 we deliver to our portfolio and to our shareholders.
     3i Growth Capital is the world's largest growth capital fund investing
 over euro 1bn every year in businesses across Europe, Asia and the US. We
 provide financial and strategic support to established businesses with the
 potential for outstanding value growth. We invest between euro 10m -- euro
 250m to help businesses achieve their growth ambitions, restructure
 shareholdings, release equity or change the balance of equity to debt. Once
 we have invested, we are committed to working in partnership with majority
 shareholders.
     Recent Growth Capital investments include KNEIP, euro 37m, Luxembourg;
 Delta Hydrocarbons, euro 185m, Benelux; UFO Moviez, India, euro 17m;
 Electrawinds, Benelux, $40m; ACR, Singapore, $200m; Navayuga Engineering,
 India, $45m and Giraffe, UK, $20m. Recent realisations include SeLoger.com,
 France, $455m; Alimak Hek, Sweden, $310m and Salamander Energy, UK, euro
 307m.
     About Fulcrum
     Established in Bermuda in 1995, Fulcrum Limited is a leading global
 fund administrator for the hedge fund and alternative investment management
 industry. Led by experienced professionals, Fulcrum is committed to quality
 information, technology, and processes. Since Fulcrum's inception, we have
 invested in the creation of technology designed specifically to satisfy the
 demands placed on a fund administrator by hedge fund managers and
 investors. Continuous development of our proprietary software maintains our
 position as a global leader in the automation of fund administration
 processes. Fulcrum has offices in New York, London, Bermuda, Canada, the
 Cayman Islands, and India. For more information please visit
 http://www.fulcrumlimited.com.
 
 

SOURCE 3i