3i Group to cut costs further after beating targets

FTSE 250 investment group 3i Group saw a surge in assets under management (AuM) in the year to March 31st and said that it has identified further cost savings for the future after outperforming its targets last year.

FTSE 250 investment group 3i Group saw a surge in assets under management (AuM) in the year to March 31st and said that it has identified further cost savings for the future after outperforming its targets last year.

The company, which focuses on private equity, infrastructure and debt management, reported AuM of £12.9bn by the end of the period, up 23% from £10.5bn the year before, "reflecting the material growth in our Debt Management business". Third-party AuM jumped 45% to £9.2bn and now represent 71% of total AuM, up from 60% the year before.

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