SVG Capital eyes the sale or float of its investments as the market improves

PRIVATE EQUITY investor SVG Capital said yesterday that prospects for selling on or floating parts of its investment portfolio had improved thanks to stronger financial markets.<br /><br />&ldquo;We believe that the prospects for realisation activity, particularly for the more mature and defensive investments, are improving,&rdquo; SVG said, adding that market conditions has &ldquo;clearly been improving in the past few months&rdquo;.<br /><br />SVG, the biggest investor in European buyout firm Permira, said it had raised &pound;12.2m from the partial sale of its holding in German telephone company Freenet during the three months to 30 October. That was &pound;3.9m more than the shares had been valued in June. <br /><br />But the firm said that some more cyclical companies are still experiencing earnings pressure and that &ldquo;Permira continues to monitor capital structures and proactively strengthen and restructure balance sheets&rdquo;. SVG had &pound;171.4m in cash and net debt of &pound;237.2m at 30 October.