UPDATE 1-Private equity firm 3i invests more, realises less

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LONDON, March 27 (Reuters) - Private equity firm 3i Group Plc (III.L: Quote, Profile, Research) reported a big rise in investments to take advantage of uncertain business conditions, but said its proceeds from realising investments had fallen.

3i said on Thursday it invested 2.15 billion pounds ($4.3 billion) in the 11 months to Feb. 29, compared with 1.35 billion in the same period the year before.

This included a big rise invested in buyouts and a more than doubling of money put into growing its businesses.

The firm, which said earlier this week it would stop early-stage investment in start-up companies, also said its proceeds from realising investments fell to 1.62 billion pounds in the 11 month period from 1.94 billion the year before.

But it added in a trading update it had not seen a material change in the financial performance of its portfolio of companies, despite the uncertain business climate.

"Our business as a whole continues to perform in line with our cross-cycle return objectives," Chief Executive Philip Yea said in the statement.

"The opportunities available to our investment business are considerable, notwithstanding the deterioration in the financial markets since the turn of the year."

3i also said its 3i India Infrastructure Fund had exceeded its $1.0 billion target and that a final closing would be announced in April. 3i and 3i Infrastructure Ltd have both committed $250 million to the fund.

3i shares, which have fallen around a quarter in value since December, were up 0.7 percent at 829 pence by 0835 GMT, to give the firm a market capitalisation of about 3 billion pounds. (Reporting by Mark Potter; Editing by David Holmes)