SVG Capital chief exec could make nearly £3.8m from US takeover thanks to shareholding

William Turvill
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Lynn Fordham has been chief executive of SVG since May 2009 (Source: Getty)

The chief executive of private equity firm SVG Capital could be in line for a payout of nearly £3.8m if US company HarbourVest succeeds in its £1bn-plus hostile pursuit.

Lynn Fordham currently owns just over 575,000 shares in the listed UK company, which was the subject of a 650p-per-share offer earlier this month.

Read more: UK private equity firm's shares leap after £1bn US takeover offer

On Friday, SVG reported a 12 per cent growth in net asset value (NAV) per share to 735p in the six months to 31 July.

In the results statement, Fordham told investors that the company had received several other approaches from different companies.

Read more: Private equity body names industry veteran as new chairman

Fordham said that the HarbourVest offer “undervalues the company and its assets”.

She added: “The company has received approaches from a number of credible parties, which the board believes may lead to an offer competing with HarbourVest and could deliver SVG Capital shareholders superior value.”

Fordham has been chief executive of SVG since May 2009. In this time, the firm's share have risen from around 130p to nearly 680p.