Permira sells entire SVG stake

Following the sale of 12 million shares, representing a 5.7% stake, SVG's share price has dropped 6.29%. Shares were priced at 390 pence each.

Despite Permira's full exit from SVG, the pair said they intend to maintain a close relationship.

For the six months to 30 June, SVG reported a 4% increase in its net asset value per share of 535 pence. Its portfolio companies distributed £116.6m, driven by Permira's recent run of exits.

SVG began broadening its private equity commitments back in December 2011, dropping its exclusive relationship with Permira in order to invest in other GPs. Permira and SVG formalised their relationship in 2005 when SVG committed €1.5bn to Permira IV and Permira V.

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• Topics
• GPs
• Permira
• SVG Capital