Simon Borrows, chief executive of 3i, has upped his stake in the listed private equity firm by purchasing £1.85 million worth of shares this week.

Borrows, a former investment banker who took on the task of running UK-listed 3i last year, bought 500,000 of ordinary shares on December 18 and 19, according to a 3i stock exchange announcement. He now owns 0.9% of 3i's shares, according to a spokeswoman for the firm.