Permira to Exit Stake in Investment Vehicle SVG Capital

Permira Holdings Ltd. sold its entire stake in SVG Capital Plc (SVI), a London-listed investment vehicle that was historically the private-equity firm’s largest backer.

Permira sold 12 million shares, or a 5.7 percent stake in the company, according to a sale statement. JPMorgan Chase & Co. (JPM) managed the transaction, which began after markets closed today. The shares were priced at 390 pence apiece and the sale had demand for all the stock on offer, according to deal terms seen by Bloomberg News.

In the first half of the year, SVG made a 3.4 percent return on its portfolio, driven by some of its larger investments including Freescale Semiconductor Ltd. and German fashion label Hugo Boss AG, it said in a statement this month. Permira owns about 50 percent of Boss.

Shares of SVG closed at 429.50 pence, up 0.12 percent.

Shareholders in Europe, the Middle East and Africa raised about $87 billion selling stakes in companies this year, about 43 percent more than they sold in the same period in 2013 as buyers return to the region’s markets, data compiled by Bloomberg show.

A spokeswoman for SVG declined to immediately comment. “Following the sale, Permira intends to continue its strong relationship with the company,” the private-equity firm said in its statement.

To contact the reporter on this story: Ruth David in London at rdavid9@bloomberg.net

To contact the editors responsible for this story: Aaron Kirchfeld at akirchfeld@bloomberg.net Elizabeth Fournier, Mohammed Hadi

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.