3i increases investment and exit pace

3i, a global private equity firm, unveiled its half-year results for the six months to 30 September 2007 showing profits of £337m (US$709m) from realisations.

Investment was up from 2006, with £1.234bn ploughed into deals during the period compared to £589 in the like period of 2006. Realisation proceeds were also up from £849m to £1.044bn.

Buyouts and growth capital performance led to gross portfolio return of 14.3%, with 3i’s net asset value per share up 27% year-on-year, from £7.92 per share at 30 September 2006 to £10.07p at 30 September 2007.

“These are a strong set of half-year results,” said 3i chief executive Philip Yea. “Given the broad spread of our investment business and the strong capabilities we are building across the world, 3i faces this potentially more challenging environment from a substantially stronger position than in previous cycles.”