Business
Interim Management Statement
Interim Management Statement.
About this update from 3i Group Plc
[{"type":"text","content":"\n \nRNS Number : 6704N 3i Group PLC 30 July 2014 \n \n\n3i Group plc - Interim Management Statement\n30 July 2014\n \n3i Group plc (\"3i\"), a leading international manager of third-party and proprietary capital across mid-market private equity, infrastructure and debt management, today issues its Interim Management Statement in accordance with FCA Disclosure and Transparency Rule 4.3. This statement relates to the three-month period from 1 April 2014 to 30 June 2014 (the \"period\" or the \"quarter\"); financial information is unaudited. There have been no material changes to the financial position of 3i from the end of this period to the date of this announcement.\n \nThis statement is presented on 3i's Investment basis in order to provide users with the most appropriate description of the drivers of 3i's performance. Net asset value (\"NAV\") and Total return are the same on the Investment basis and on an IFRS basis. Further details of the differences between 3i's consolidated financial statements prepared on an IFRS basis and under the Investment basis are provided in the 2014 Annual Report and Accounts.\n \nSimon Borrows, 3i's Chief Executive said:\n \n\"The new financial year has started well. We are seeing good momentum across the Group and a growing number of exits at attractive valuations. We remain cautious investors in both Private Equity and Infrastructure given the competitive dynamics in those markets but have made selective investment in all three divisions.\"\n \n \nHighlights for the quarter ended 30 June 2014:\n \n§ Received £164 million of Private Equity realisation proceeds, with an additional c.£245 million expected from exits signed but not yet completed;\n§ Continued selective investment across Private Equity, Infrastructure and Debt Management;\n§ Raised a $618 million US CLO; further €525 million European CLO announced since the quarter end;\n§ Good momentum maintained in the Private Equity portfolio with strong earnings growth;\n§ Diluted NAV per share increased by 4% to 361 pence as at 30 June 2014, before payment of final FY2014 dividend of 13.3 pence per share on 25 July 2014.\n \n \nRealisations and investment activity \n \n\n\n\n\n\n\n\nPrivate \n\n\nInfrastructure\n\n\nDebt \n\n\n\n\n\n\n\n\n\n\nEquity\n\n\n\n\n\nManagement\n\n\nTotal\n\n\n\...