THE HEAD of 3i Infrastructure yesterday opened the way to spending more cash despite the chill gripping the deals market.
Cressida Hogg, managing partner, said the firm is “developing the investment pipeline for the coming months”. It also said its portfolio is “performing well” and delivering a good yield.
The firm reported a cash balance of £136.2m.
The group, which is set to battle institutional investors in the fight to buy Edinburgh airport from operator BAA, is also working on the procurement process for the government’s £6bn overhaul of the Thameslink rail line.
Yesterday in a statement for the period from 1 October Hogg said her firm is “currently focusing on bringing the Thameslink transaction to a financial close”.
Last year the Department for Transport said the preferred bidder for the supply of new Thameslink trains will be 3i Infrastructure and its partners Innisfree and Siements Project Ventures.
Britain’s oldest private equity firm 3i Group floated the infrastructure arm in 2007 and remains its investment adviser.