Monthly Archives: February 2024

Focus Stock: 3i Group plc

3i Group plc

Written by Head of Research & Portfolio Manager, Jamie Murray, CFA.

3i Group plc is a U.K. private equity company with investments in 39 mid-market companies across the consumer, healthcare, and industrial technology sectors. The company has been shaped from the top by CEO Simon Borrows, who we credit with much of its success over the past decade. When he took on the top role in 2012, the company was struggling with poorly performing investments, bloated management, and high debt. In short order, 3i cut 40% of its headcount, shrank its investment portfolio by 100 companies to 30-40 and worked with its underperforming investments to improve their results. The outcome is evident in 3i’s share price performance with the value rising 10-fold in that time. Unlike traditional private equity firms that raise third party capital and manage on behalf of limited partners/outside investors, 3i invests its own capital (the main exception being 3i’s Infrastructure fund, which is structured as a traditional fund). It targets companies with holding periods of about five years and a goal of doubling its money, equating to a 15% return per annum. Read

January Portfolio Update | 2024

Thoughts on the Market: January Edition

Written by Head of Research, Jamie Murray, CFA


The Recession That Wasn’t There.

Any slowdown in the U.S. economy from higher interest rates appears to be fading. Gross Domestic Product (GDP) for the fourth quarter of 2023 grew at a 3.3% pace, according to U.S. Commerce Department data released in late January. As well, real time measures of GDP indicate that this trend is continuing in Q1/24, with the Atlanta Fed GDPNow tracker indicating a 3.4% expansion based on January data releases. This pace is well above Wall Street economists’ models, as can be seen in Figure 1. We believe there are several reasons for the strength, starting with a rebounding technology sector, a resilient U.S. housing market and declining inflation.


Maximizing Tax Efficiency in 2024

Maximizing Tax Efficiency in 2024: A Comprehensive Guide

Written by The Murray Wealth Group

As we begin 2024, it’s prime time to strategize and ensure you’re making the most of available tax-saving opportunities. Read

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