3i Quoted Private Equity Limited
17 August 2007
3i Quoted Private Equity Limited - Interim Management Statement
17 August 2007
3i Quoted Private Equity Limited ('3i QPE') is an investment company, listed on
the London Stock Exchange, specialising in applying private equity techniques to
quoted businesses. This is the first Interim Management Statement issued by 3i
QPE in accordance with the new EU Transparency Directive and the FSA's
Disclosure Rules and Transparency Rules. This statement relates to the first
period of trading since incorporation of the Company, being the period from 21
March 2007 to 16 August 2007.
David Tyler, 3i QPE's Chairman, said: 'We were pleased to have completed our
planned £400m placing and flotation in June. We are now working with 3i's
investment advisory team to invest the proceeds in attractive opportunities.'
3i QPE invested a total of £19.4 million in the period to 16 August 2007.
This was invested in Strategic Recovery Fund II LP ('SRF II'), a public equities
fund advised by SVG Advisers Limited. At flotation, 3i QPE acquired an interest
in SRF II and has made another investment following a further drawdown by the
An investment was also made in The Character Group plc where a 25.9% interest
was acquired from 3i Group plc. The Character Group plc is listed on AIM and is
engaged in the design, development and international distribution of children's
toys and games.
2. Investment pipeline
Having developed a good pipeline of opportunities, the Investment Advisory
team's immediate focus is on converting the best of these into investments and
building a high quality portfolio over time.
3. Developments at the Investment Adviser
The Investment Advisory team continues to build its capabilities and has
recruited a further five executives, two directors and three associates, in the
For information please contact:
David Tyler Chairman, 3i Quoted Private Equity Limited 01534 711 445
Bruce Carnegie-Brown Managing Partner, QPE, 3i Investments plc 020 7975 3465
Helen Adams Group Communications, 3i Group plc 020 7975 3465
This statement aims to give an indication of material events and transactions
that have taken place during the period from 21 March 2007 to the date of
publication of this statement and their impact on the financial position of 3i
Quoted Private Equity Limited. 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 Quoted Private Equity Limited's portfolio.
This information is provided by RNS
The company news service from the London Stock Exchange