FTSE 250-listed private equity group 3i got its new financial year off to a good start, with a growing number of exits at attractive valuations. It received £164m of proceeds in the quarter with an additional £245m expected but not yet completed.Chief Executive Simon Borrows: "We remain cautious investors in both private equity and infrastructure given the competitive dynamics in those markets but have made selective investment in all three divisions."3i raised a $618m US convertible loan obligation (CLO) with a further €525m European CLO announced since quarter end. Overall assets under management fell by £0.4bn to £12.5bn with CLO issuance offsetting divestments. Diluted net asset value was up 4% to 361p, with pre-payment of final dividend on 25th July versus current price 393p. Net debt now down to £104m post divestments (gross debt £839 and £735 cash with £1.2bn total liquidity w committed undrawn facilities).OH