3IN : 3i Infrastructure makes 10% in first half
Strong performance from 3i Infrastructure’s European portfolio and rolling stock investments helped drive a 10.6% return on net assets for the fund for the six months that ended on 30th September.
3i Infrastructure holds two rail rolling stock investments – Eversholt Rail and XLT. Strong competition for new rolling stock contracts supported a reduction in the discount rate they use to value their rolling stock investments and this translated into an increase in value for them.
Indian investments didn’t do so well as problems with the availability and pricing of fuel and construction delays weighed on this market.
They committed £13m to three new investments (A12 motorway and RIVM laboratories in the Netherlands, as well as Ayrshire College in the UK) and they are part of consortia that have preferred bidder status on three other projects – the A9 motorway in the Netherlands, La Santé prison in France and the West of Duddon Sands OFTO (Offshore Transmission Owners) in the UK. The latter project is akin to the offshore transmission project picked up by INPP recently. This pdf explains a bit about these sorts of deals.