SVG Capital () was a leading British

private equity Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...

and

investment management Investment management (sometimes referred to more generally as financial asset management) is the professional asset management of various Security (finance), securities, including shareholdings, Bond (finance), bonds, and other assets, such as r ...

business. Headquartered in

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

, it was listed on the

London Stock Exchange The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

History

The business was established in 1996 to acquire the

interests of Schroder Venture Group ('SVG'). It was first listed on the

in the same year. In May 2008, SVG Capital announced the sale of £102 million of limited partnership interests in six

private equity fund A private equity fund (abbreviated as PE fund) is a collective investment scheme used for making investments in various equity (and to a lesser extent debt) securities according to one of the investment strategies associated with private equity. ...

s to Lexington Partners and SVG's

collateralized fund obligation A collateralized fund obligation (CFO) is a form of securitization involving private equity fund or hedge fund assets, similar to collateralized debt obligations. CFOs are a structured form of financing for diversified private equity portfolios, ...

vehicle, SVG Diamond. In October 2012, SVG Capital suffered a temporary downfall with its

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shares taking a tumble of 12%. In February 2013, SVG Capital sold 50.1% of SVG Advisers to Aberdeen Asset Management for £17.5 million. In August 2013, SVG Capital sold SVG Investment Managers to the Swiss investment company Hansa AG, without revealing the details of the deal. In September 2016, trying to avert the hostile take-over by HarbourVest Partners, SVG Capital, holding out for a more advantageous offer, rejected an offer from Pomona Capital and

Pantheon Ventures Pantheon is a private equity, infrastructure, real assets and debt investor that invests on behalf of over 660 investors, including public and private pension plans, insurance companies, endowments and foundations. Founded in 1982, Pantheon has d ...

for half of its portfolio in favor of an offer by Goldman Sachs Capital Partners and

Canada Pension Plan The Canada Pension Plan (CPP; ) is a contributory, earnings-related social insurance program. It is one of the two major components of Canada's public retirement income system, the other being Old Age Security (OAS). Other parts of Canada's retir ...

. In October 2016, having received a more favorable offer from them, the company agreed to sell its portfolio to HarbourVest for £807 million. In April 2015, SVG Capital's stake in the joint venture vehicle Aberdeen SVG Private Equity Managers, was acquired by their joint venture partner Aberdeen Asset Management for the sum of £29m. In April 2017, the company announced that it would appoint a liquidator to manage the final distribution to shareholders. It was announced that SVG Capital would wind up on 29 June 2017 subject to a vote.

Investments

SVG Private Equity utilised collateralised 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. SVG Private Equity had significant investments in private equity funds managed by

Permira Permira Holdings Limited is a British global investment firm specialised in buyouts, growth funds, equity funds, and credit funds. Founded in 1985 as part of Schroders, it became independent in 1996. Operating as Permira since 2001, the company ...

, which comprised over half of the firm's portfolio by value.

References

External links

SVG Capital
(archived company website) Private equity firms of the United Kingdom Defunct companies based in London Investment management companies of the United Kingdom Financial services companies established in 1996 {{UK-private-equity-company-stub