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SVG to launch new fund to apply PE investment techniques to public companies

SVG Advisers, the UK-based private equity fund of funds specialist, has announced plans to launch a new public equities fund to build on the performance of its first public equity Strategic Recovery Fund. The new vehicle will differ from its predecessor by targeting institutional investors as well as high net worth investors.

Tony Dalwood, head of public equities at SVG Advisers, said, 'Our approach within the SVG Advisers' public equity team has been to apply similar due diligence and valuation approaches to investment that has served private equity firms so well in recent years. The performance of the SRF to date has demonstrated the validity of this approach, and we expect that the launch of the follow-on fund later in the year will meet the appetite of both institutional and high net worth investors for similar returns.'

Strategic Recovery Fund was launched at the end of 2003 and has since achieved a return on capital of 64 per cent and a net fund IRR of 68 per cent. The £15m fund's performance has been generated through investments in a focused portfolio of five companies.

SVG Capital, founded in 1996, is a private equity fund of funds and fund advisory business. SVG Capital's fund advisory business, SVG Advisers, advises investment vehicles that invest in private equity or public equity using private equity techniques. SVG Advisers has combined third-party funds under management and commitments of approximately €1.4bn.

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