Exits

3i said in a pre-close update that it will pay out another £800 million to shareholders after a strong year for investment and realisations. It has now made £2 billion of dividend awards in three years.

As expected, UK-listed buyout group 3i has sold UK car park operator NCP to Macquarie for £790m, realising a substantial profit just a year and a half after buying the company.

European mezzanine and private equity firm Mezzanine Management has held a first close on its second central and eastern European fund, Accession Mezzanine Capital II, at €100m.

3i, a global private equity firm, has reported £627m of realisations and £568m of investments in its pre-close period briefing. The firm expects to close its €5bn fifth European mid-market fund in the next few weeks.

The mezzanine and preferred equity investor, founded by two former bankers, has proved its model to investors and raised twice as much as its 2004 debut.

Bridgepoint, a European mid-market private equity firm, has bolstered its European advisory committee with the appointment of Sir James Crosby, former chief executive officer of HBOS.

Private equity has extended to the far corners of the world, cropping up in some unexpected locales. Judy Kuan speaks with Robert Fogler, co-founder of the Rwanda-focused Thousand Hills Venture Fund, about the role for private equity in a smaller market – but one that might well be on a fast-track for growth.

The quoted trust vehicle of Dunedin Capital Partners has reported a profit of £24m on sales of £70m for the year ended 30 April 2006.

Dunedin Enterprise Investment Trust, a quoted investment trust vehicle of Dunedin Capital Partners, has committed £75m to the firm’s second buyout fund.

London-listed private equity firm 3i has increased the amount it intends to return to shareholders following ‘strong’ full-year results from £500m to £700m.