Sir John Kingman and Lord Blackwell will be members of the City’s ReCapitalisation Group, Sky News understands.
3i was created after the Second World War as the Industrial and Commercial Finance Corporation to back small and medium-sized companies that could not access public equity markets.
Sky News revealed earlier this month that new capital could emerge in the form of equity which ranks above that of existing shareholders, retail bonds or another form of equity. Insiders pointed out that many of the business-owners which were being forced to borrow to see them through the crisis had never needed debt facilities before.
Rishi Sunak, the chancellor, has launched several bailout initiatives to keep British industry alive during the pandemic.
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