SVG sees assets shrink

SVG Capital, the biggest backer of private equity house Permira, said its assets tumbled 14.5 per cent in the third quarter after the value of its investments plummeted. SVG said its net asset value was 336.7p at the end of the quarter, the first time it has declined since 2009. However, the figure was still better than some analysts had expected, with most forecasting a range of 290p to 310p.