SVG sells stake in Carlyle feeder fund

Aldwych Capital Partners is a €120m feeder fund raised to invest in three funds managed by The Carlyle Group.

SVG Capital has sold part of its stake in Aldwych Capital Partners, according to a UK regulatory filing.

Aldwych is a €120 million feeder fund that closed in April 2014. The fund was raised to invest in two private equity funds managed by The Carlyle Group and to make a €150 million commitment to a new Carlyle buyout fund. The fund is managed by Aberdeen SVG which is a strategic alliance between Aberdeen Asset Management and private equity advisor SVG Capital, according to a statement.

“We are very pleased to have been able to work in partnership with The Carlyle Group on this fund offering. Aldwych is a differentiated vehicle which offers investors the potential for attractive future returns,” James Witter, a senior product specialist at Aberdeen SVG said in the statement.

Aberdeen SVG did not return a request for additional comments.

SVG is a private equity investor listed on the London Stock Exchange. Since its listing in 1996, SVG has committed more than £2.6 billion to private equity funds, the majority of which has been to Permira. Recently, the firm expanded its list of capital commitments to include CCMP Capital, Cinven, and Clayton Dubilier & Rice, according to its website.

SVG sold the fund stake to Marie Lyvie De Haan, the spouse of Roger De Haan, whose father Sidney De Haan founded UK insurance and leisure group Saga. Roger de Haan sold Saga to Charterhouse Capital Partners in 2004 and made approximately  £1.1 billion on the deal, according to Secondaries Investor’s sister publication Private Equity International.

SVG and the De Haan family couldn’t be reached for comment by press time.