Overview
SVG Capital’s investment objective is to achieve capital appreciation by investing in a portfolio of private equity and private equity related assets. In the medium to long term, SVG Capital intends to evolve into a listed private equity vehicle offering investors a liquid, balanced, single point exposure to private equity and private equity related assets, allocating capital across the asset class dependent on market conditions.
Research History
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18 Jan 2018 1 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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12 Jul 2017 2 min read
QuotedData investment companies roundup – July 2017
QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]
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16 May 2017 2 min read
QuotedData investment companies roundup – May 2017
QuotedData investment companies roundup: Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2017. Kindly sponsored by Baillie Gifford. Money in: The only new launch in April was EJF Investments, a £69m fund trying to take advantage of […]
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15 Mar 2017 1 min read
QuotedData investment companies roundup – March 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. March Investment Companies Roundup
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31 Jan 2017 1 min read
QuotedData – 2016 review of the year
Our review of 2016 includes performance data, significant moves in discounts and premiums, money raised and money handed back, major news stories and links to the research we have published including our guide to investment companies. 2016 Annual roundup
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27 Oct 2016 1 min read
Quarterly investment companies roundup – Third quarter 2016
Q3 saw the market adapt to life post the UK’s EU referendum. Sterling continued to fall but most stock markets stabilised and discounts narrowed across most sectors. While the US election is dominating headlines, it does not seem to be having much impact on markets so far. q3-quarterly-roundup
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13 Oct 2016 1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
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10 Jan 2014 2 min read
Private equity funds in 2013
2013 was a year of mixed fortunes for the listed private equity sector. Some funds did exceptionally well but others, particularly those exposed to emerging markets saw falling NAVs and widening discounts. The recovery in 3i : III ‘s share price following the disclosure of Sherborne’s stake building in the fund pushed it close to the […]
News
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10 Apr 2017 1 min read
SVG Capital returns £299m through undersubscribed tender offer
SVG Capital has announced the results of its Tender Offer which closed on 7 April 2017. The company says that 41,762,005 Ordinary Shares were validly tendered and will be purchased at a price per Ordinary Share of 715 pence, for a total cost of £298,598,335.75. This represents approximately 63.8 per cent. of the issued share […]
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16 Dec 2016 1 min read
SVG Capital announces tender offer results
SVG Capital has announced the results of its tender offer, the details of which were set out in the company’s shareholder circular published by the Company on 17 November 2016. The company says that 122,492,644 ordinary shares were validly tendered and, following application of the scale-back mechanism, 48,951,048 ordinary shares will be purchased at a […]
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06 Dec 2016 1 min read
SVG Capital shareholders approve wind up proposals
SVG Capital has announced the results of its general meeting at which shareholders have a proved a change of investment policy, which allows for an orderly realisation of the Company’s assets and to make repurchases in connection with a series of tenders offers, which will allow for a progressive return of cash to shareholders. Following […]
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17 Nov 2016 1 min read
SVG Capital opens tender offer for £1.05bn
SVG Capital has announced that, further to its announcement on 18 October 2016 regarding the proposed sale of 100% of its investment portfolio and wind down, it has published a circular for shareholders with details of: a proposed change of investment objective and policy; a proposed sale of the Company’s investment portfolio (completion of which […]
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15 Nov 2016 1 min read
UIL, Industrial Multi Property Third Quarter Winners – QuotedData
LONDON (Alliance News) – The best performer in both price and net asset value terms in the third quarter was UIL Ltd, boosted by its largest investment, Australian-listed Resolute Mining Ltd, which benefited from a strong gold price. Industrial Multi Property Trust PLC and Kubera-Cross Border Fund Ltd both saw recoveries in their share price […]
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19 Oct 2016 1 min read
HarbourVest wins battle for SVG Capital
SVG Capital, one of the UK’s largest private equity investment trusts and a Money Observer Rated Fund, has succumbed to a hostile takeover from US rival HarbourVest. read more here
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18 Oct 2016 1 min read
Harbourvest to buy SVG portfolio for £807m
SVG Capital has announced that it has sold 100% of its portfolio having today signed an asset transfer deed with Harbourvest. Harbourvest Structured Solutions III LP is paying £807m for the portfolio. The price is a small (0.6%) premium to the NAV at end July 2016. Taking that figure, adding SVG’s existing cash pile and allowing […]
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17 Oct 2016 1 min read
10 YEARS OF PA: The birth of infrastructure funds, to property in turmoil
The investment company sector has changed considerably over the past ten years, as back in October 2006 we were still enjoying the dying days of the credit boom. read more here
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10 Oct 2016 2 min read
Harbourvest considering bid for SVG’s portfolio
In a new twist, Harbourvest has said in a press statement that it might bid for SVG’s portfolio. It followed this up with a statement this morning that said “HarbourVest announces today that it has approached the Board of SVG Capital with a view to engaging immediately with the Board to put forward a firm […]
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07 Oct 2016 2 min read
HabourVest makes an extension to its offer for SVG Capital
HarbourVest has announced that, in light of the proposals disclosed by SVG Capital yesterday, to sell SVG Capital’s entire portfolio to funds managed by Goldman Sachs Asset Management’s Alternative Investments & Manager Selection Group (Goldman Sachs AIMS Group) and certain investment entities managed by Canada Pension Plan Investment Board (CPPIB) for approximately £748m, it believes […]
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06 Oct 2016 2 min read
SVG Capital proposes sale and wind down for approximately 680p per share
SVG Capital has provided an update regarding the proposed sale of the company’s investment portfolio and wind down. The Board says that it has agreed in principle the key commercial terms of a proposed sale of 100% of the investment portfolio to funds managed by Goldman Sachs Asset Management’s Alternative Investments & Manager Selection Group […]
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04 Oct 2016 1 min read
SVG and Harbourvest update on offer
HarbourVest has made a statement to the effect that it notes that despite the Board of SVG Capital stating on 3 October 2016 that it would be in a position to update Shareholders as to its discussions with other parties by this morning, no announcement has been made. This came out at 13:14 today. SVG […]
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03 Oct 2016 1 min read
SVG confirms Goldman Sachs and others looking at deal
The Board of SVG Capital notes the speculation around the identity of a unit of Goldman Sachs and the Canadian Pension Plan Investment Board (“CPPIB”) as consortium members linked to a possible alternative transaction for SVG Capital plc. As announced on 16 September, 2016, the Board was in discussions with a number of parties who […]
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29 Sep 2016 2 min read
SVG in talks with a number of credible parties
SVG Capital says The Board believes that Harbourvest’s offer undervalues the company and recommends that shareholders do not accept HarbourVest Bidco’s Offer of 650p per share. Since the announcement of the change of the Company’s investment strategy in December 2011, SVG Capital has reported NAV and share price growth of 18.5% p.a. and 24.0% p.a. respectively (as at […]
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26 Sep 2016 1 min read
SVG Capital in talks with various parties following HarbourVest offer
IC Top 100 Fund SVG Capital (SVI) has received a takeover offer from global private equity company HarbourVest and shareholders in possession of more than half the shares are backing the offer. Only 50 per cent of SVG’s shares need to vote in favour for the deal to go ahead. SVG’s board is opposing the […]
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16 Sep 2016 1 min read
SVG Capital interims show 12% NAV uplift in six months
SVG Capital reports a 12% increase in NAV per share to 735p for the six months to 31 July 2016. Excluding the currency benefit on the investment portfolio, the NAV growth was 6%. During the period they committed GBP273 million to three new fund investments. They introduced two new managers to the portfolio (L Catterton and IK Investment Partners) […]
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12 Sep 2016 2 min read
Harbourvest bid for SVG
HarbourVest today announces a full and final cash offer to be made by HarbourVest Bidco for the entire issued and to be issued ordinary share capital of SVG Capital, to be implemented by way of a takeover offer within the meaning of Part 28 of the Companies Act 2006. Under the terms of the Offer, […]
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25 Apr 2016 1 min read
Property and infrastructure trusts see inflows in Q1
Volatility has meant that no investment trusts were launched over the first quarter of this year, while money that was raised was focused around property and infrastructure trusts, according to QuotedData. See more at: http://www.portfolio-adviser.com/news/1028797/property-infrastructure-trusts-inflows-q1#sthash.uWHsqkEA.dpuf
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22 Mar 2016 2 min read
SVG Capital makes 9% in 2015 on strong exits
SVG Capital has announced its results for the year ended 31 December 2015. Net assets per share increased by 11% over the 12 months to 654p with the performance driven by a 9% total return on the investment portfolio and further augmented by accretive share buybacks and tenders. 2015 was a good year for exits […]
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24 Sep 2015 1 min read
SVG NAV advances after busy period for realisations
SVG Capital has published interim results covering the six months ended 31 July 2015. Over that period the fund’s net asset value rose by 3% to 606p on the back of a 4% return on the investment portfolio. £101m was returned to shareholders during the period They say the portfolio is now broadly split between […]
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20 Jul 2015 1 min read
Investment trusts see largest ever new issue
QuotedData reports that the investment trust sector expanded by about GBP2.4 billion over the second quarter of 2015, taking in close to GBP2.9 billion and handing back just over GBP450 million. The firm comments that many of the funds raising money are not designed to throw off high levels of income, suggesting that investors are […]
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23 Mar 2015 1 min read
SVG reports good NAV growth and plans a tender in May
SVG Capital has announced results for the thirteen months ended 31 January 2015. Over the period the company’s net asset value rose by 14% to 588p (from a total return on the investment portfolio of 17%). £330m of cash was generated by the portfolio during the period and the company returned £205m to shareholders – £100m via tenders and […]
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18 Mar 2015 1 min read
SVG Capital sells remaining holding in Hugo Boss for £78m
SVG Capital has announced that Red & Black Lux S.à r.l., an investment company owned by Permira, has its remaining stake in Hugo Boss for £78m. This follows on from the sale of a 6% stake, in August 2014, for £69.4m. SVI : SVG Capital sells remaining holding in Hugo Boss for £78m
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20 Oct 2014 1 min read
SVG Capital sells Arysta for £221m
SVI : SVG Capital sells Arysta for £221m SVG Capital has announced that Industrial Equity Holdings, an investment company owned by Permira, has sold Arysta Life Sciences. The deal values SVG Capital’s stake at £221m. Arysta is involved in the development, marketing and distribution of chemical solutions for the agroscience and health & nutrition science marketplace. When […]
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11 Aug 2014 1 min read
SVG Capital sees net inflow in first half
SVI: SVG Capital sees net inflow in first half SVG Capital received £92.5m in H1 2014 as Pemira stepped up the pace of realisations within its funds and it has seen a further £116.6m flood in since the end of June. SVG reinvested £78.6m of this in the first half and has had calls of […]
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13 Feb 2014 1 min read
SVG Capital : SVI – Results for 2013
Over 2013 SVG Capital’s NAV rose by 31.5%, well ahead of the return on the MSCI world Index of 20.3%. They gave £151.1m back to shareholders and plan to return another £217m )including a tender offer of at least £50m planned for May 2014). They repaid £150m of debt and ended the year with net […]
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17 Jan 2014 1 min read
SVG Capital : SVI – sale of ProSieben Sat
SVI has announced that the remainder of its investment in ProSieben Sat.1 Media AG has been sold. SVG Capital will get £85.6m from the sale. SVI also announced that they’ll announce their results n 13 February 2014.
