Shares in private equity firm 3i have risen 3% today after it revealed activist investor Edward Bramson had been buying shares via his Sherborne vehicle.
3i said Sherborne Investors and its broker Jefferies have been trading the private equity group's shares this month. It added it believes Sherborne acquired around 0.7% of its shares. 3i said Sherborne then sold those shares to Jefferies earlier this month, with the broker owning around 1.6% of 3i's issued share capital as of 22 January. Bramson's Sherborne raised £200m last year for a fund it said will invest in an unspecified "undervalued" listed company, a move 3i flagged in its statement to shareholders this morning. The 3i stake-building comes after another activist investor, ...
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