Home Deals

Deals

SVG’s second-largest shareholder says it is ‘supportive of the SVG management’ as the UK private equity investor fends off an unsolicited bid from US rival HarbourVest.
The investment bank has agreed to acquire stakes held in Partners’ 2007-vintage secondaries fund in a deal expected to close by the end of September.
The Italian buyout firm, which this month bought its first UK-based company, JD Classics, says premium classic cars are in high demand in markets like the US, the Gulf and Singapore.
This is the first exit from HgCapital 7; the firm is currently in discussions about raising its eighth fund.
The London-listed private equity investor urged shareholders to take no action on HarbourVest’s £1bn bid, saying the 650p-a-share final offer ‘undervalues the company’.
The UK-focused firm has now invested around 70% of its £300m third fund.
The London-based buyout firm is making its second investment from Montagu V, which closed on its hard-cap on €2.75bn last September.
The Northern England-focused buyout firm has sold the video game developer to private investment firm Perwyn after less than two years.
Coller bought 50m shares in the listed private equity investor at 100 pence a share in the depths of the financial crisis, and would receive 650 pence a share if an unsolicited bid for SVG Capital succeeds.
The London-listed private equity investor has asked shareholders to wait until its results on 30 September before taking action, but the deal looks likely to proceed, say analysts.
pei
pei

Copyright PEI Media

Not for publication, email or dissemination