After 3i Group declared the end of its three-year restructuring alongside its annual results on Thursday and revealed it has no plans to raise a new fund – instead using cash from its balance sheet – FN caught up with Alan Giddins, co-head of private equity, to discuss what the future holds for the UK group and its investment strategy.

3i is not going to raise a new private equity fund in the medium term. Does that mean you are going to change the way you invest, perhaps holding onto assets for longer?