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SVG's NAV falls 18%, CEO 'cautiously optimistic'The listed Permira investor is upbeat about its prospects, despite half-year results detailing a 5% drop in portfolio value and the unlikelihood of many distributions in the next 18 months.
- PEI names secondaries pioneer private equity leader
In a ‘sign of the times’ PEI’s second annual Private Equity Leader award has gone to Jeremy Coller, whose firm manages one of the largest pools of capital in the secondaries market.
- Fordham, Dalwood step up to lead retrenched SVG
The London-listed private equity investor has filled its top management positions from within as it separates the management teams of its two business divisions.
- Report: Buffini to step down from SVG board
Damon Buffini’s reported departure coincides with the listed fund of funds' ongoing strategic review, which, when it is finalised at the end of April, will reportedly result in a greater focus on its fund management business.
- ING’s Australia-listed FoF sounds liquidity alarm
ING PEAL has been drawing on an A$20m credit facility to fund capital calls and will try to reduce some A$49m in undrawn commitments via secondary sales. It has also ceased paying dividends and making new investments.
- Listed funds face existential dilemma
Mithras Investment Trust recently decided to cease new commitments and return cash to investors. Coupled with setbacks revealed by fellow publicly traded European funds, including those affiliated with Candover and Permira, the sector’s future course remains unclear.
- Milestone closes Fund III on $230m
The Pennsylvania-based private equity firm has exceeded its $200m target, having garnered commitments from returning investors as well as new institutional limited partners.
- Permira offer to LPs may shrink fund
Investors in Permira’s Fund IV have been given the option to limit their capital contribution to 60% of the amount they originally committed to the €11.1bn fund.
- Permira in talks to help struggling limited partners
The global private equity firm is looking at ways to assist liquidity-constrained investors, according to the firm’s largest LP, SVG Capital. SVG expects low distribution levels for the next 12 months.
- Schroders to launch US private equity operations
The UK asset management firm is preparing to cross the pond and has appointed Eric Nelson to spearhead sales for US alternatives.