I should have posted this last week but time got away from me. But portfolio holding 3i Group (III/LN) gave its trading update. And since the company is involved in venture capital, LBOs and investments, its view on the credit crunch are at least interesting.
Put simply, 3i believes the mid-size buyout space in which it operates should be less affected by the turbulent debt markets than the larger deals sought by some of its rivals, according to Reuters.
Longtime readers will remember one of the things I liked about 3i was that it has a competitive advantage in doing mid-size deals. Hopefully the lack of competition in that area will prove advantageous in the tighter LBO market -- which is shrouded in uncertainty the company doesn't expect to be lifted until the spring of 2008 or so.
A couple of other interesting bits:
3i on Thursday announced the first close of a targeted $1 billion infrastructure fund devoted to investment in India. 3i has committed $250 million to the fund.
The firm also boosted sales from its portfolio of companies by 61 percent during the five-month span to 1 billion pounds from the same time a year ago, it said in a statement ahead of its six-month results to Sept. 30, which it plans to report to investors on Nov. 8.
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