3i Group PLC 24 January 2008 3i Group plc - Interim Management Statement 24 January 2008 3i Group plc ("3i"), a world leader in private equity and venture capital, today issues its Interim Management Statement in accordance with FSA Disclosure and Transparency Rule 4.3. This statement relates to the three month period from 30 September 2007 to 31 December 2007. Philip Yea, 3i's Chief Executive, said: "Our mid-market position and the depth of our international network have allowed us to continue to source good investment opportunities notwithstanding the more difficult economic outlook. As expected, realisations have slowed since the first quarter of this financial year, reflecting both the underlying maturity of the portfolio and, in some markets, less certain conditions." He added: "The broad spread of 3i's asset classes and geographies, the quality of our network, and the strength of our financial position, enable us to face these more uncertain economic and market conditions from a position of confidence." 1. Investment and realisations 3i invested £544 million during the quarter, bringing the total invested in the nine months to 31 December 2007 to £1,778 million. Investment for the equivalent nine month period last year was £1,125 million. In addition, £471 million (2006: £133 million) was invested on behalf of co-investment funds managed by 3i. Investment by business line was as follows: Investment £m Quarter ended Quarter ended Quarter ended 9 months to 9 months to 30 June 30 September 31 December 31 December 31 December 2007 2007 2007 2007 (Total) 2006 (Total) Buyouts 107 329 208 644 277 Growth Capital 271 222 245 738 396 Venture Capital 31 34 60 125 153 Infrastructure - 58 25 83 284 QPE 182 - - 182 14 SMI - - 6 6 1 Total 591 643 544 1,778 1,125 Realisation proceeds received by 3i (excluding co-investment funds) were £429 million for the third quarter, bringing realisation proceeds to £1,473 million for the nine months to 31 December 2007 (2006: £1,470 million). Realisations by business line were as follows: Realisations £m Quarter ended Quarter ended Quarter ended 9 months to 9 months to 30 June 30 September 31 December 31 December 31 December 2007 2007 2007 2007 (Total) 2006 (Total) Buyouts 256 284 290 830 771 Growth Capital 231 42 85 358 479 Venture Capital 84 27 30 141 61 Infrastructure - 32 - 32 8 QPE 2 15 - 17 - SMI 32 39 24 95 151 Total 605 439 429 1,473 1,470 Investments and realisations made during the period by 3i Infrastructure Limited and 3i Quoted Private Equity Limited are not included. 2. Returns Realisations for the three month period have been achieved at aggregate uplifts over 31 March 2007 carrying values at similar levels with those achieved in the half year to 30 September 2007 (48%). As usual, an important element in the determination of 3i's results for the full year to 31 March 2008 will be the detailed valuation exercise carried out on its investment portfolio as at that date. 3. India infrastructure In September 2007, 3i announced the first close of the 3i India Infrastructure Fund at $500 million. The Fund, which is the first to be established in the framework of the strategic partnership agreement announced by 3i and the India Infrastructure Finance Company Limited, has a target size of $1.0 billion and expects to announce a final close by the end of March 2008. 4. Balance sheet The Group's gearing as at 31 December 2007 was largely unchanged from 30 September 2007. 3i Group plc had 386,502,922 issued ordinary shares admitted to trading on a regulated or prescribed market as at 31 December 2007. Ends For information please contact: Simon Ball Finance Director, 3i Group plc 020 7975 3356 Patrick Dunne Group Communications Director, 3i Group plc 020 7975 3283 Philip Gawith Maitland 020 7379 5151 This statement aims to give an indication of material events and transactions that have taken place during the period from 30 September 2007 to 31 December 2007 and their impact on the financial position of 3i Group plc. These indications reflect the Board's current view. They are subject to a number of risks and uncertainties and could change. Factors which could cause or contribute to such differences include, but are not limited to, general economic and market conditions and specific factors affecting the financial prospects or performance of individual investments within 3i's portfolio. This information is provided by RNS The company news service from the London Stock Exchange