3i launches the 3i Global Floating Rate Income Fund
3i Group plc (“3i” or “3i Group”), an international investment manager, is pleased to announce the launch of the 3i Global Floating Rate Income Fund (“the Fund”). The Fund will be $150m at launch, including a commitment of $75m from 3i Group’s capital.
The Fund is open-ended and will focus on investing in a diverse portfolio of primarily senior secured floating rate corporate credit assets in Europe and the US. It will be jointly managed by the 3i Debt Management (“3iDM”) teams in London and New York. The Fund offers investors fortnightly liquidity and will report NAV daily.
Jeremy Ghose, Managing Partner and 3i Debt Management CEO, commented:
“We are pleased to announce the launch of the 3i Global Floating Rate Income Fund. In a market environment characterised by very low interest rates we think this fund is attractive to a wide variety of investors given its focus on income generation and capital preservation. Investors will be able to gain exposure to a compelling risk-adjusted investment opportunity through primarily senior secured floating rate loans across both Europe and the US within a single product.
“The Fund also marks a further step in 3iDM’s strategy to diversify into complementary products and follows the successful first close of our European Middle Market Fund in November and the continued strong performance of our US Senior Loan Fund.”
At 31 March 2015, 3iDM managed 33 funds and had total assets under management of approx. US$11 billion.
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For further information, contact:
3i Group plc
Kathryn van der Kroft
Tel: +44 20 7975 3021
Tel: +44 20 7975 3157
Notes to editors:
About 3i Group
3i is a leading international investment manager focused on mid-market Private Equity, Infrastructure and Debt Management across Europe, Asia and North America. For further information, please visit: www.3i.com
About 3i Debt Management
3i Debt Management specialises in the management of third-party funds investing in corporate debt issued by medium and large European and US companies.