3i Infrastructure plc
3i has a 34% holding in 3i Infrastructure plc (“3iN”), an investment company listed on the London Stock Exchange and a component of the FTSE 250. At 30 September 2012, 3iN had a market capitalisation of approximately £1.1bn.
3iN’s strategy is to invest in infrastructure businesses, making equity and junior or mezzanine debt investments. It invests in companies with stable underlying performance: asset-intensive businesses, providing essential services over the long term, often on a regulated basis, or with significant contracted revenues.
Its objective is to provide shareholders with a total return of 12% per annum over the long term, to be achieved by building and managing a balanced portfolio of infrastructure investments. Within this overall objective, it targets an annual distribution yield of 5% of opening net asset value.
3iN’s market focus is on core infrastructure in Europe, principally in the utilities and transportation sectors. It also has investments in social infrastructure, as well as in hybrid infrastructure through its commitment to the 3i India Infrastructure Fund.
As of 30 September 2012, 3i Infrastructure had a portfolio of 15 assets valued at £886m, and net assets of c. £1.1bn.
Further information on 3iN is available on its own dedicated website, www.3i-infrastructure.com.