Shares in 3i Group were up on the FTSE 100 in morning trading after the investment company reported a rise in assets under management in the year ended 31 March.
Assets under management rose from £9.6 billion to £12.7 billion, thanks mainly to the near doubling of External Funds handled by the group. Investment also increased from £386 million to £719 million.
The group said that the value of its portfolio had also risen from £3.5 billion to just under £4.0 billion, however net debt also increased from £258 million to £522 million.
3i said that it would be raising its dividend 20 per cent to 3.6 pence per share.
Michael Queen, Chief Executive of 3i, said, "Significant progress has been made over the last two years and I am confident that we now have three strong platforms for growth. We have made a good start to the financial year and are well placed to make further progress."
By 08:55 shares in 3i Group were up 6.15 per cent on the FTSE 100 to 288.40 pence per share.