SVG posts 3.5% NAV increase

SVG also reported year-to-date NAV growth of 27.1% in its latest interim management statement, compared with an increase of 14.6% seen on the FTSE All-Share.

SVG has distributed £38.7m in the third quarter of this year, the bulk of which was generated from the £115.6m recapitalisation of Permira's Hugo Boss, and the full realisation of Marazzi. 

The firm has also announced changes to its board, with non-executive director Charles Sinclair to step down on November 8; David Robins will replace him as senior independent director. 

SVG has been working on a share buyback scheme and purchased 6.4 million shares during the third quarter at a weighted average share price of 398 pence. Since 30 September, the company has bought back a further 2.3 million shares at a weighted average of 391 pence.

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• Permira