3i Group starts year with strong portfolio performance

(ShareCast News) - 3i Group's net asset value per share rose in the first quarter to 400p from 396p in the quarter prior.The asset management company said the increase was despite a foreign exchange translation loss of £84m, or 9p per share, due to unfavourable exchange rates.The company said it realised £229m from private equity assets, and announced two new investments during the quarter, in the Northern European industrials sector.3i Group chief executive Simon Borrows said the first quarter was productive with good levels of activity across all three business lines."Our Private Equity portfolio continued to perform well and saw good earnings growth and realisations. Our Debt Management team made good progress on fundraising and new product development and Infrastructure continued to develop its investment pipeline."Shares in 3i Group were up by 0.82% to 550p at 0824 BST.