Bloomberg News

SVG Capital Says Net Asset Value Advanced 11% Last Year

February 09, 2012

(Adds SVG Advisers in second paragraph.)

Feb. 9 (Bloomberg) -- SVG Capital Plc, the biggest backer of private equity firm Permira Advisers LLP, said the value of its assets increased 11 percent last year as its holdings in companies including Hugo Boss outperformed stock markets.

Net asset value rose to 350.2 pence a share at the end of December, including the company’s own valuation of its fund management division, London-based SVG said in a statement today. SVG received distributions of 253.4 million pounds ($401 million), up from 123 million pounds in 2010, the firm said.

SVG marked up the value of its stake in Hugo Boss and Italian luxury label Valentino Fashion Group SA by 96 million pounds. Distributions included 70 million pounds from a sale of SVG’s stake in Galaxy Entertainment Group Ltd., a Chinese casino operator.

“The positive momentum has continued into 2012,” Chief Executive Officer Lynn Fordham said in the statement. “Permira isn’t seeing much evidence of any meaningful softness in earnings.”

SVG said in December it would return 170 million pounds to shareholders and widen its range of investments to include buyout firms other than Permira.

--Editors: Edward Evans, Stephen Taylor

To contact the reporter on this story: Jesse Westbrook in London at jwestbrook1@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net.


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