Directors’ reportDirectors’ remuneration reportAuditors’ reportFinancial statementsAdditional financial informationInformation for shareholders
Introduction 01Group financial highlights 02Chairman’s statement033i at a glance04Chief Executive’s statement06Business reviewGroup business08Our strategy10Buyouts12Growth Capital16Venture Capital20Directors’ remuneration report60Independent auditors’ report tothe members of 3iGroup plc73Consolidated income statement74Statement of recognised incomeand expense74Reconciliation of movements in equity75Balance sheet76Cash flow statement77Assets under management1013i portfolio102Portfolio analysis includingco-investment funds104Investment105Information for shareholders112Investor relations and general enquiries112Investor relations website – 3igroup.com113Business review continuedInfrastructure24Quoted Private Equity25Risk management26Financial review32Corporate responsibility report40Board of Directorsand Management Committee48Directors’ report – statutory andcorporate governance information50Significant accounting policies78Notes to the financial statements82Portfolio valuation methodology 98Ten largest investments99Forty other large investments100Realisations 106Private equity andventure capital – a lexicon107Returns and IRRs – an explanation108Carried interest – an explanation110
Annual and interim reports online
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This photograph, which was taken in Madrid, comes from a collectiontaken by Craig Easton for 3i of cities in which we operate.
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Information onlineInformation in this reportThis Annual report and accounts may contain certain statements about the futureoutlook for 3i. Although we believe our expectations are based on reasonableassumptions, any statements about the future outlook may be influenced by factorsthat could cause actual outcomes and results to be materially different.