SVG to give £170m to shareholders
Private equity group SVG Capital said it would return up to £170m to shareholders via share buy-backs and tender offers as part of a new investment strategy.
Private equity group SVG Capital said it would return up to £170m to shareholders via share buy-backs and tender offers as part of a new investment strategy.
This would begin with an initial return of up to £50m through a tender offer, augmented by share buy-backs, the firm said.
The company also said it would build on its Permira portfolio by moving from being a single manager concentrated investor to a strategy of committing to a limited number of private equity managers and co-investments.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
SVG reported that it had strengthened its balance sheet with cash balances standing at around £125m, reducing its debt to £137m or 13% of shareholders' funds.
"The investment strategy we are laying out today recognises our recent successes, the current challenging market environment and the significant future opportunity for SVG Capital in a capital constrained environment," said chief executive Lynn Fordham.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Zoopla: House prices slows to 1.4% in May as rate of sales at four year high
The average UK property now costs £268,400, Zoopla says, but some areas of the country are experiencing much higher price growth than others.
-
FCA reveals 'once in a generation' advice changes - what the reforms mean for you
Consumers to get free access to financial advice type help for pensions and investment following proposed changes from the regulator