3i completes $48 mln exits in third quarter

Reuters – British private equity group 3i said on Thursday it had completed 29 million pounds ($48 million) of exits in the three months to Dec. 31, taking its total proceeds for the year so far to 557 million pounds.

The owner of women’s fashion retailer Hobbs and Tommee Tippee baby bottle maker Mayborn said new investment increased during the third quarter, with 247 million pounds invested compared to just 4 million pounds in same three months in 2012.

The group said it did not plan to complete any significant new private equity investments in the final quarter of its financial year.

3i said diluted net asset value (NAV) per share had increased 3 percent to 333 pence.