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3i hires GE senior executive as North American head

Bob Stefanowski, a 14-year General Electric veteran who most recently headed the firm’s European corporate finance division, will lead 3i’s push into North American growth and infrastructure investments.

3i has hired Bob Stefanowski to lead its growth capital and infrastructure investment efforts in North America, giving him the newly created role of managing partner and chairman for 3i North America effective September 15.

Stefanowski has spent the last 14 years at General Electric, most recently as the chief executive of its European corporate finance division, where his responsibilities included overseeing the division’s M&A, structured finance and capital markets activities.

Philip Yea, chief executive of the UK-headquartered private equity firm, said in a statement that North America was an important market for the firm.

3i expanded its growth capital team to the US in 2007 with the opening of a New York office, having previously opened venture capital-focused locations in Silicon Valley and Boston in 1999.

It closed its Boston office last year, in line with a shift away from early-stage investing that has also seen it sell some of its venture portfolios to secondary firms like UK-based Shackleton Ventures.

In the US, the firm recently said it plans to aggressively build out its healthcare investment team, and will also focus efforts on infrastructure, having last year raised £700 million for a publicly traded infrastructure fund with a focus on North America, Europe and Asia.

Stefanowski will join 3i's management committee, along with newly appointed managing partner of group markets, Bruno Deschamps. Deschamps will retain his current responsibilities for 3i France, but will now assume specific responsibilities for 3i's Continental European network and certain group functions.