The update, referring to the period 1 April 2009 to 29 March 2010, revealed that 3i Infrastructure, a wholly owned, London-listed subsidiary of 3i Group, had invested £73.3 million (€82.3 million; $111.5 million) and realised proceeds of £25.5 million. The firm has current cash balances of £310.6 million.
Also during the reporting period, 3i Infrastructure said it had generated £11.8 million from the redemption of high-yielding senior preference shares in AWG, the largest water and waste-water firm in England and Wales, which had a face value of £10.3 million.
In the statement, 3i Infrastructure said the market environment for infrastructure investment was improving, the pipeline of investment opportunities was attractive and portfolio assets were “performing well” and “generating a good yield”.
3i Infrastructure listed on the London Stock Exchange in March 2007, raising £703 million in an initial public offering and further £115 million from a subsequent placing and open offer in July 2008. The firm aims to build a diversified portfolio of infrastructure assets across the globe, with an initial focus on Europe, Asia and North America.