Nicole Lee
SVG’s second-largest shareholder says it is ‘supportive of the SVG management’ as the UK private equity investor fends off an unsolicited bid from US rival HarbourVest Partners.
The firm has collected about half the €400m target for SwanCap Opportunities Fund III which can invest in direct secondaries.
Following its rebranding last September, the alternatives investment manager has named Georg Wunderlin as chief executive, Ernest Boles as vice-chairman, and Marcel Giacometti as senior advisor.
The London-listed private equity investor urged shareholders to take no action on HarbourVest Partners' £1bn bid, saying the 650p-a-share final offer ‘undervalues the company’.
Secondaries investments made up 23% of investment volume, and a further 22% went into “select private markets managers”, the firm said.
The secondaries firm acquired a 24% stake in the UK private equity firm through its 2006-vintage $4.8bn Coller International Partners V fund.
The global investment firm is using its latest dedicated secondaries fund for the take-private offer.