Half-yearly results 2008
Highly selective approach to new investment
Broadly balanced investment and realisations during the period
32% growth in external funds since September 2007
3i''s Chief Executive, Philip Yea, commented:
"The credit and stock markets have deteriorated since late September and the outlook for the global economy continues to weaken. Despite a resilient first six months of the year, we would expect a more challenging second half as the squeeze in credit markets persists, the economic slowdown affects portfolio earnings and M&A markets remain subdued.
In such an environment our focus is on managing the portfolio, maintaining liquidity, remaining highly selective with investment and controlling costs. 3i''s sector expertise, active partnership approach and close engagement with the strategy of the portfolio companies all provide additional strength in these economic conditions."
For further information, please contact:
3i Group plc
Philip Yea, Chie Executive - 020 7975 3386
Julia Wilson, Finance Director Designate - 020 7975 3356
Patrick Dunne, Group Communications Director - 020 7975 3283
Lydia Pretzlik - 020 7379 5151
For further information regarding the announcement of 3i''s half-yearly results to 30 September 2008, including video interviews with Philip Yea and Julia Wilson (available at 7.15am) and a live webcast of the results presentation (at 10.30am, available on demand from 2.00pm), please see http://www.3igroup.com/.
Notes to editors
3i is a mid-market private equity business. We focus on buyouts, growth capital, infrastructure and quoted private equity, investing across Europe, Asia and the US.
Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders.