London-based private equity group 3i said it earned 164 million pounds ($277.88 million) from exiting companies in the last quarter, with a further 245 million pounds to come.
“We are seeing good momentum across the group and a growing number of exits at attractive valuations,” 3i Chief Executive Simon Borrows said in a statement on Wednesday.
“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.”
In a statement on its first quarter of the new financial year that started in April, the company said it raised a $618 million collateral loan obligation (CLO), and a further 525 million euros European CLO since the quarter ended.
It had 12.5 billion pounds of assets under management at the end of June, down slightly from 12.9 billion at the end of March.
It paid a final dividend of 13.3 pence per share on July 25.
The company said the mid-market private equity market remains fully priced, resulting in a cautious approach to new investment.
(1 US dollar = 0.5902 British pound)
(Reporting by Huw Jones, editing by Louise Heavens)