3i Group's shares closed at a 4-year high as investors proceed to buy into 3i Group's turnaround strategy. The increase came out on the same day that Europe's main listed private equity index also climbed to its highest level since 2007.
Some analysts say investors are hoping next week's first quarter outcome will be better than the market expects. This, anaylsts say, provided the gains in 3i's share price. The company will be holding its Annual General Meeting later this month.
The LPX Europe index, where European listed private equity firms are tracked, went up to 473. This its highest level since late 2007. This marked an astonishing climb of nearly 250% since March of 2009. The amount is twice the increase seen in the MSCI Europe over the identical period.
Last year the 3i Group appointed Simon Borrows as its new chief executive. The company also saw its investors accumulate shareholdings.
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