Boss recovery helps SVG assets grow
Thursday 14 February 2013
A bounce-back in Hugo Boss's share price in the final quarter helped SVG Capital, the listed private equity fund, to record a 16 per cent jump in the value of its assets in 2012.
Boss was caught in the slipstream of Burberry's profit warning last year, but recovered strongly as investors realised it was still growing strongly. SVG's net asset value, which was 391p at the end of last year, is now around 433p as its major investments continued to gain.
The firm also announced its first commitment to a private equity fund manager outside its traditional tie-up with Permira. It is putting £100m into CinVen's fifth fund as it seeks to diversify its portfolio.
Lynne Fordham, chief executive, also announced that it will aim for another £300m return over the next three years.
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