3i Infrastructure plc
3i has a 34% holding in 3i Infrastructure plc (“3iN”), an investment company listed on the London Stock Exchange and a component of the FTSE 250. At 31 March 2014, 3iN had a market capitalisation of approximately £1.1bn.
3iN is a long-term investor in infrastructure businesses and assets. Its strategy is to maintain a balanced portfolio of investments in order to deliver stable returns to its shareholders, through a mix of income yield and capital appreciation. 3iN invests in companies and assets with strong market positions and that deliver stable underlying performance. These asset-intensive businesses provide essential services over the long term, often on a regulated basis or with significant contracted revenues.
3iN’s objective is to provide shareholders with a total return of 10% per annum. Within this overall objective, it targets an annual distribution yield of 5.5% of opening net asset value.
3iN’s market focus is on core economic infrastructure in developed economies, principally in Europe, in the utilities and transportation sectors, investing in operational businesses which generate long-term yield and can provide capital growth. It also has investments in social infrastructure and is building its exposure to Public Private Partnership and renewable energy projects.
Further information on 3iN is available on its own dedicated website, www.3i-infrastructure.com.