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.
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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.
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