The European firm has raised its first early stage clean tech fund nearly two years since its first close. The firm quintupled the size of its last capital raising in 2001 in an effort to avoid dilution by larger investors in later funding rounds of successful companies.
The emerging markets fund of funds has made its second large commitment to Actis' funds this year, investing in the firm’s global private equity fundraising attempts. In January it invested nearly $1bn in the firm’s latest infrastructure fund.
The captive arm of the emerging markets fund manager has tapped increasing demand to invest in emerging markets, nearly quadrupling the size of its previous fund and raising more than 60 percent from new investors.
The group continued to grow in the last year, although the group’s discount to NAV remained at 18.2 percent. Philip Yea hopes 3i's diversification sees it in a position of strength in troubled markets.
Financial sponsors negotiating block purchases of opportunity loans from banks are being provided with discounted financing. In return for the cheap financing the selling banks are asking for more than the book price of their loans.