International 3i Trust to Tap Post-IPO potential –

3i’s push into the technology sector continues apace.

Following the launch of its $400 million Asian technology fund, its acquisition of Germany’s Technologieholding and the restructuring of BIL to form 3i Bioscience Investment Trust, the group has launched a GBP400 million ($621million) trust to invest in quoted European technology companies.

3i European Technology Trust (3iET), which will be managed by 3i Asset Management, the group’s quoted fund management team, will target listed companies with a strong technology orientation in all sectors except biotechnology/life sciences bases already covered by the Bioscience Investment Trust.

Paul Waller, the group’s director of fund management, said 3iET has an excellent opportunity to leverage 3i’s skills in the technology field across Europe. “3iET creates an opportunity to access listed technology companies at flotation and other listed technology companies in areas where 3i has expertise,” he added.