3i Infrastructure says European portfolio performing well

24th Jan 2014 07:10

- Portfolio income at 32.7m pounds in Q3- Year-to-date portfolio income at 63.6m poundsInfrastructure investment group 3i Infrastructure said that its European portfolio continued to perform well operationally and financially in the third quarter and is generating good levels of income.The Jersey-headquartered firm said that this was consistent with its objective of paying a dividend of 5.5% of shareholders' equity for the full year ending March 31st.The portfolio generated income, net of fees payable and receivable on investment activities, of £32.7m in the three months to December 31st 2013.This brought the portfolio income over the first three quarters to £63.6m."Conditions in the debt markets were supportive in the period, leading to significant re-financing activity in the portfolio," 3i said.Meanwhile, the company said it was pleased with its recent investment in the Dutch National Military Museum, in which it paid €6.3m for a 80% holding in November.This, according to Chairman Peter Sedwick, was the "first investment sourced through the Investment Adviser's enhanced platform, and which diversifies the portfolio with a Public Private Partnership investment in continental Europe".BC