Exits

The mid-market continues to provide investment and realisation opportunities for the global firm. Philip Yea, its chief executive stressed the importance of remaining selective.

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.

The captive infrastructure firm of the US bank has closed its latest fund, which has already made more than $1bn of investments. More than 100 employees of the bank invested.

3i has provided growth capital to help Unión Radio, the Latin American and Spanish radio operator, on its path to an initial public offering.

Despite further gains in its portfolio’s value the fund of funds' discount to NAV is increasing as listed private equity firms continue to suffer.

The FTSE 100 company, led by Philip Yea, remains confident that despite difficult market conditions, which may slow down its mid-market buyout business, its recently expanded growth capital team will be sheltered from the credit storm.

The listed alternative asset manager incurred losses on its investments in four Permira portfolio companies last year, but its fund management business grew and Permira made ten profitable realisations.

Pantheon Ventures’ listed fund of funds achieved a rise in net asset value per share during the second half of 2007, which ensured that it outperformed stock market benchmarks.

The Norwegian firm, led by Ole Ertvaag, completed fundraising in three months, capitalising on the interest in the booming oil and gas sector to more than double its fund size.

3i, the FTSE 100 investment firm, kept up investing in the last quarter of last year despite the problems in the global credit markets. Chief executive Philip Yea emphasised the group’s mid-market position and international network to explain the steady investment flow.