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SVG Capital sees net inflow in first half

SVI: SVG Capital sees net inflow in first half

SVG Capital received £92.5m in H1 2014 as Pemira stepped up the pace of realisations within its funds and it has seen a further £116.6m flood in since the end of June. SVG reinvested £78.6m of this in the first half and has had calls of £70.5m since the end of June. New investments include a $150m commitment to CCMP Capital III – a fund focused on mid-market ($250m to $2bn) buyouts in Europe and the US. More money, £110m, was returned to shareholders in the period bringing the total to £363m – 77% of their target. The new co-investments are included within these figures – The Hillman Group (a fasteners, key duplication systems, engraved tags and related hardware company – made alongside CCMP Capital), Teamviewer (a global provider of secure remote support software – made alongside Permira) and Visma (a software and business process outsourcing services business in the Nordic region – made alongside Cinven).

The net asset value rose by 4% to 535p. It would have been better had it not been for the strength of Sterling. SG Capital extended their credit facility by a further €50m.

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