By Edward Evans and Elisa Martinuzzi

March 8 (Bloomberg) -- 3i Group Plc raised 700 million pounds ($1.4 billion) in an initial public offering of an infrastructure fund, less than the amount it originally sought.

The company sold shares in the fund for 100 pence each, London-based 3i said in a statement today. The company had said it would raise as much as 1.3 billion pounds in the sale. The shares fell 2.3 percent to 97.75 pence in their London debut today.

3i began raising the U.K.'s biggest listed infrastructure fund before a plunge in the Chinese stock market on Feb. 27 triggered a global slide that drove the Dow Jones Industrial Average to its worst loss since September 2001. Hedge fund Brevan Howard Asset Management LLP may fail to raise the 1 billion euros ($1.3 billion) it's seeking from investors in an IPO of a hedge fund that concludes today.

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Posted by pichu at March 8, 2007 11:26 AM