3i fully invested and on track for 2017

3i's portfolio generated an increased level of income in the third quarter and the private equity group said it remained on track to deliver its target dividend of 7.55p per share.

In the three months to the end of 2016, £19.2m of income was received in dividends, interest receivable and fees from portfolio assets, a 32% rise on the amount a year before.

3i also received non-income cash of £5.6m, compared to £0.9m in the same quarter the prior year, reflecting the contribution of the investments completed since the beginning of the financial year.

The final proceeds from its £385 equity raise in June were invested in the period in renewable electricity outfit Infinis.

As of 31 December, the FTSE 250 company held £54m cash and the revolving credit facility was £140m drawn, leaving an undrawn balance of £160m.

3i has the ability to seek to increase the facility by up to a further £200m.