The fund manager last week reduced its shareholding in SVG to 11.35 per cent but said this was to meet cashflow obligations and confirmed its “ongoing support for the business”.
In a statement today, Schroders told the FT it “continues to be supportive of the SVG management”.
HarbourVest last week announced it had made an all-cash offer of 650p per share, totalling more than £1bn, for the UK business.
The US firm also revealed the bid had been accepted by SVG’s four biggest investors: Coller Capital, Avivda, Old Mutual and Legal & General. HarbourVest itself, meanwhile, bought 8.5 per cent of shares on the day of the offer, giving it effective control of more than 50 per cent of the group.
SVG Capital’s chief executive Lynn Fordham then said at the end of last week, in the SVG’s results announcement, that the company had received several other approaches from different companies.
She said: “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.”