3i reports NAV of 760p

3i reported net asset value for the first financial quarter was 760p, up from 724p in the year to March 2018.

The private equity and infrastructure investor said it realised £337m in cash, net of a £535m pound reinvestment in ferry operator Scandlines.

It also completed two new investments in Royal Sanders and International Cruise and Excursions worth £245m.

Chief executive Simon Borrows said the company's balance sheet was strong but he remained cautious about the pricing of new investments in the current environment.

“Overall, our portfolio of international companies remains well positioned, despite the macro uncertainties, to deliver another year of good earnings growth," he said.