Robust European performance at 3i Infrastructure, India headwinds

31st Mar 2014 07:14

- European portfolio performs well- India Fund hurt by market issues- Sees opportunities in core infrastructure marketInvestment firm 3i Infrastructure said its European portfolio has continued to perform well however its India Fund remains affected by a number of macro-economic and market issues.The European portfolio generated income of £80.9m from April 1st 2013 to March 28th 2014 from £64.3m for the nine months to December 31st 2013. The group, which has a stake in Indian energy group Adani Power, said the India Fund's performance overall stabilised in the second half of the year."In addition to seeing a good pipeline of primary PPP projects, we continue to see attractive opportunities in the core infrastructure market, which remains the company's key area of focus," the group said.The group, which has investments in Anglian Water, India's Adani Power and a new investement in the Mersey Gateway Bridge primary PPP project, said the company is targeting a portfolio made up of at least 75-80% core infrastructure investments."The new investment in the Mersey Gateway Bridge primary PPP project, along with the investment in the Dutch National Military Museum completed at the end of 2013, demonstrates the value of the Investment Adviser's acquisition of Barclays' European PPP investment platform"In addition to seeing a good pipeline of primary PPP projects, we continue to see attractive opportunities in the core infrastructure market, which remains the company's key area of focus," the group said.CJ