3i has sold its remaining 16.5% stake in listed pan European data centre operator, TelecityGroup, at a price of 345p, realizing proceeds of GBP111m. Proceeds since the company's 2007 IPO total GBP153m for 3i, generating a 5x return for the private equity firm on its original investment. London-based Telecity operates 23 data centres across Europe who launched a GBP436m IPO in October 2007. The business has recently opened new data centres in Paris, Stockholm and Milan and adding incremental capacity in London, Amsterdam and Frankfurt.