3i Southeast Asia head Mark Thornton to exit firm
Mark Thornton, a founding member of 3i Group’s Southeast Asia team, is to depart the private equity firm for undisclosed reasons. 3i’s head of Asia Anil Ahuja will inherit Thornton’s duties and lead the firm's Singaporean and Indian businesses, according to Reuters.
Thornton joined 3i in 1995, and spent five years at the firm's UK headquarters before moving to Asia. He played a lead role in the launch of 3i's Hong Kong office and the management of its Japanese business, the firm's website notes. Most recently he has led 3i's Southeast Asian business out of Singapore. Thornton has been involved in key transactions including Asia Capital Re, Salamander Energy, Vantec, IndiaReit and Franklin Offshore.
3i confirmed to Reuters that Ahuja will report to Chairman of Asia and America Bob Stefanowski. Ahuja has been touted as one of the earliest private equity investors in India. He joined 3i in 2005 after spending 20 years at institutions including JP Morgan Partners Asia in India and Citibank Mumbai.
In the first six months of the year, 3i has invested two major infrastructure and construction companies in India - Ind-Barath Energy and KMC Constructions - for a combined $160 million from its 1.2 billion 3i India Infrastructure Fund.
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