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SVG launches new fund to invest in public equities using private equity techniques31/01/2007. Source: AltAssets. 
 SVG Investment Managers has launched a new fund which will be structured as a hedge fund but will apply private equity techniques to invest in European public equity markets.
Listed on the Irish Stock Exchange, the SVG European Absolute Return Fund will look to invest in an average of 35 to 40 stocks (long and short positions) targeting companies with market capitalisations greater than €100m (long positions) and €500m (short positions).
The team managing the SVG European Absolute Return Fund looks at potential investments in much the same way as a private equity investment team would. For example, they plan exit routes from the outset and use the advisory board which oversees SVG's fund of funds investments.
The SVG public equity team manages 'unconstrained' portfolios, consisting of public equity investments which the firm's private equity-based research has indicated are undervalued; and 'strategic' mandates, which target publicly-listed companies that would benefit from strategic and/or managerial change. The overall objective of these mandates is to increase the value of the investments by working in partnership with management and other stakeholders.
Tony Dalwood, head of public equities at SVG, said, 'The SVG European Absolute Return Fund aims to provide investors seeking to achieve absolute returns, a unique offering in accessing the European quoted markets. Over the past ten years private equity investment in Europe has outperformed the European stock market by 9.5 per cent per annum. By applying private equity investment techniques to European public markets, we aim to capitalise on this opportunity for investors.'
SVG Capital's investment objective is to achieve capital appreciation by investing principally in private equity funds that are managed or advised by Permira. SVG Capital's fund management business, SVG Advisers, manages or advises investment vehicles that invest in private equity or public equity using private equity techniques.
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