3i Infrastructure, a long-term investor in infrastructure businesses and assets, has announced that it has successfully completed the capital raise with gross proceeds of £385 million (US$560 million) by way of open offer, placing and intermediaries offer.

On 12 May 2016, 3i Infrastructure plc announced details of a proposed issue of new ordinary shares with an original target size of £350 million (US$508 million). 

Therefore, the offering was significantly oversubscribed and the final size has been set so as to ensure that the company continues to maintain an efficient balance sheet whilst at the same time having sufficient liquidity to bid for new investment opportunities in its current pipeline.  

Approximately £230 million (US$335 million) of the proceeds will be used to fund the completion of the investments in Wireless Infrastructure Group and TCR, expected to close in June and August respectively. 

The remaining proceeds will be used to invest in further new investments from the investment adviser's pipeline of opportunities.

Richard Laing, Chairman of 3i Infrastructure plc, said:

"We are delighted with the strong support received from existing shareholders for our capital raise and we are also pleased to welcome new shareholders to our register. Both reflect the confidence in the Company's prospects.  The Board and the Investment Adviser look forward to continuing to build upon the strong performance of the existing investment portfolio and further develop the pipeline of new investment opportunities."