As a publicly-listed company, 3i is subject to formal legal and regulatory disclosure requirements as well as the high expectations for transparency of our shareholders, fund investors, employees and the media. We firmly believe that transparency is crucial for building trust, and we take a proactive approach to communicating both financial and non-financial performance.

Our approach to transparency has been encouraged and reinforced by the benefits we believe that we derive from having a good track record on this very important issue. Long before becoming a public company, 3i's annual reports went beyond what was required from a legal perspective.