3i: Fifty Years Investing in Industry

by Coopey, Richard; Clarke, Donald

• ISBN13: 9780198289449
• ISBN10: 0198289448
• Format: Hardcover
• Copyright: 1995-08-24
• Publisher: Oxford University Press

Summary

* First published history of key investment institution * Combinesnarrative history of the organization, its people, and the changing politicaland economical environment * insider's view of assessing investment andstructuring the deals * mini case-studies of high-profile companies *numerous cartoons and illustrations* significant publicity associated with 3i flotation and 50th anniversary.3i (investors in industry, formerly the Industrial and Commercial FinanceCorporation,etc) is Britain's leading venture capital company. Founded in 1945as a result of a combination of pressures and counter-pressures from thepolitical parties, Whitehall, the Bank of England, and the clearing banks, theorganization has played a significant role in post war investment banking andindustrial development.The first part of the book traces history from the early years to post-warreconstruction and the role played by Piercy and Kinross, through the years ofconsolidation, to the higher-profile years of the change of name and style and1994 flotation. The second part offers an inside view of the workings of thisunique institution - the controllers, 3i's role in developing MBO's, methods ofassessing risk and return, its relationship with capital markets, etc. Duringits first 50 years 3i has invested in numerous well known and successfulcompanies - many of these are detailed in the text (British Caledonian, OxfordInstruments, Laura Ashley, etc). The book is also elegantly and innovativelydesigned, making good use of the well known 3i cartoons.

Author Biography

Richard Coopey is Research Fellow in the Business History Unit at the London School of Economics. Donald Clarke is former Finance Director of 3i.

Table of Contents

Introduction

Coopey:

Keeping Government out of the Banking Business

The Piercy Style

Establishing Independence

Consolidation and Diversification

The 1970s FFI

The The 1980s Expansion and Change

3i: Remaking the Image

Back to the Core

Clarke:

3i and Innovator

Investment Capital v Venture Capital

Raising Funds/3i's Financial Policies

Management Style and Strategic Direction

Diversification

The Tax Case

The International Dimension

3i in the Thatcher Years

3i's Contribution to the Economy - An Alternative ModelPostscriptAppendicesGlossary

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