SVG Capital

SVG Capital (LSE: SVI) was a leading British private equity and investment management business. Headquartered in London, it was listed on the London Stock Exchange.

SVG Capital
TypePublic (LSE: SVI)
IndustryPrivate Equity
Investment Management
Founded1996
Defunct2017 (2017)
HeadquartersLondon, UK
Key people
Andrew Sykes, Chairman
Lynn Fordham, CEO Non-Executive Directors - Simon Bax, Stephen Duckett, Helen Mahy David Robins, Senior Independent Director
Revenue£4.6 million (2016)[1]
£(12.5) million (2016)[1]
£(16.1) million (2016)[1]
Websitewww.svgcapital.com (archived)

History

The business was established in 1996 to acquire the private equity interests of Schroder Venture Group ('SVG'). It was first listed on the London Stock Exchange in the same year.[2] In May 2008, SVG Capital announced the sale of £102 million of limited partnership interests in six private equity funds to Lexington Partners and SVG's collateralized fund obligation vehicle, SVG Diamond.[3] In October 2016 the company agreed to sell its portfolio to HarbourVest for £807 million.[4] In April 2017 the company announced that it would appoint a liquidator to manage the final distribution to shareholders.[5] It was announced that SVG Capital would wind up on 29 June 2017 subject to a vote.[6]

Investments

SVG Private Equity utilized collateralized fund obligation securitizations as part of its "Diamond" program, SVG Diamond (2004), SVG Diamond II (2006) and SVG Diamond III (2007) in order to raise capital for its private equity investments.[7][8] SVG Private Equity had significant investments in private equity funds managed by Permira, which comprise over half of the firm's portfolio by value.[9]

References
  1. "Annual Report for the period ended 9 December 2016" (PDF). SVG Capital. Retrieved 28 April 2017.
  2. "Profile: Ferguson lands in another hot seat". Financial Times. Retrieved 3 April 2015.
  3. "SVG Capital PLC - Bond launch & sale of assets." Reuters, 8 May 2008
  4. "PE firm SVG Capital to sell investment portfolio to HarbourVest". Reuters. 10 October 2016. Retrieved 28 January 2017.
  5. "SVG Capital To Appoint Liquidator For Final Shareholder Return". TD Direct Investing. 25 April 2017. Retrieved 25 June 2017.
  6. "SVG Capital prepares to wind up this month". Investors Chronicle. 15 June 2017. Retrieved 12 April 2020.
  7. SVG Diamond Programme
  8. "SVG Diamond II raises €500m for private equity investment - AltAssets Private Equity News". altassets.net. Retrieved 3 April 2015.
  9. Permira


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