GCP Infrastructure Investments reported improved profit in the last six months, as it continues to see a steady flow of investment opportunities, and said it is confident of building a significant pipeline over the coming months.
The group, which floated last summer, said total comprehensive income for the six months to March 31st 2013 rose to £6.4m from £1.7m the same time a year earlier.
As at March 28th 2013 net asset value (NAV) was 101.96p per ordinary share and 98.64p per C share.
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The group said its share price has traded at a premium to net asset value throughout the period.
Chairman Ian Reeves said: "We were delighted to raise £144.4m in October's C share fundraise, more than doubling the size of the company. The significant participation in the fundraise by both new and existing investors was a demonstration of confidence in the Company and the quality of the company's investment proposition."
"The capital raised has been deployed in a portfolio of highly attractive investments in both the private finance initiative and renewable energy sectors, allowing conversion of the C shares into ordinary shares within the predicted timeframe."
The group said the ongoing lack of availability of debt for UK infrastructure projects, predominantly resulting from the banks' continuing retreat from the sector, has meant that the Master Fund's offering of long-term debt remains a highly sought after product.
"The investment adviser continues to see a steady flow of investment opportunities and is confident of building a significant pipeline over the coming months."
An interim dividend of 3.8p per share has been offered for the six-month period from October 1st 2012 to March 31st 2013.
CJ
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