Permira's top LP SVG Capital sees 25% rise in asset value
UK-based Permira Advisers’ most prominent LP SVG Capital has announced a 25% increase in its assets’ value in the first half of 2011. This was largely attributed to strong performances by Permira portfolio companies including Galaxy Entertainment Group and Hugo Boss.
According to SVG, the value of its net assets rose GBP3.93 per share, with Hugo Boss and Valentino Fashion Group the best-performing investments by June 30, followed by Galaxy Entertainment. A Bloomberg report noted that the value in SVG's stakes in Hugo Boss and Valentino rose by 57% to GBP258.4 million ($418.7 million) and the value of its stake in Galaxy Entertainment increased 83% to GBP204.1 million.
The news comes days after Permira divested approximately 6.5% of its stake in Macau casino and entertainment operator Galaxy Entertainment for HK$4.8 billion ($614 million), selling 270 million shares for HK$17.70 apiece. According to Permira, the firm made the sale to recover a substantial part of its initial 20%-stake investment cost without diminishing its significant minority stake in Galaxy. It further noted that it aims to be a long-term backer of Galaxy Entertainment.
Eighty percent of SVG's investments lies in funds that are managed or advised by Permira. SVG's overall portfolio is dominated by global (40%) and European assets (22%). Asian assets account for 16% of the company's portfolio. The company claims GBP4.6 billion of assets under management, of which GBP3.1 billion are managed or advised on behalf of third parties.
Launched in 1996, SVG has offices in London, Boston and Singapore.
More on LPs
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.