3i Group's private equity activities generated a gross investment return of £719 million, 24%, on opening value for the fiscal year ended March 31. The firm's PE team brought in total proceeds of £831 million from realizations, which included £155 million returned as a result of refinancings. The team also took advantage of favorable debt market conditions to add leverage to certain portfolio companies, however the average debt-to-EBITDA ratio for its portfolio remained stable at 3.1x. Excluding refinancings, 3i realized profits of £144 million over opening valuation. At the end of the fiscal year, the firm had total PE assets under management of nearly £3.8 billion.