
3i sells stake in Infrastructure
Listed private equity firm 3i has reduced its stake in its infrastructure fund to a third after selling 77 million shares. The placing raised £61m towards the £2bn debt pile the investor has accrued; half of which is due in the next three years.
3i's infrastructure has been in the news lately over its interest in Gatwick airport, which it was eyeing up along with the Ontario Teachers' Pension Plan and Canada Pension Plan. Earlier this week the consortium was reported to have backed off.
Separately, 3i is expected to close an infrastructure deal in India worth more than $100m by the end of this month, according to reports. 3i raised $1.2bn for infrastructure investment in April 2008. The fund has already put a quarter of the money to work. Citigroup Global Markets UK and JPMorgan Cazenove acted as bookrunners on the placing.
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater