SVG Capital prospers from surge in private equity dealmaking
Listed private equity group SVG Capital yesterday said its portfolio had made £200m in cash since the turn of the year thanks to this year’s boom in new listings.
The group, which invests money into private equity funds, said it generated £92.5m between January and June and a further £116.6m since thanks to dealmaking by buyout firm Permira, which invests cash on behalf of SVG.
Investors in Permira’s funds have benefitted from the initial public offering of firms like Saga and AA, which were controlled by a company co-owned by Permira.
SVG said it had made £11.3m in cash distributions from the flotation, while a recapitalisation of a Huge Boss holding company – which SVG also indirectly invests in – gave a further £69.4m of cash distribution.
“It’s August but there’s still good deal flow and good opportunities,” SVG chief executive Lynn Fordham told City A.M.
The group, which was originally called Schroder Venture Group, said the net asset value per share rose four per cent in the period.