SVG Capital invests in some of Britain’s best-known private equity funds. It claims that HarbourVest’s offer undervalues it Anthony Devlin/PAHopes of a white knight bid for SVG Capital were raised yesterday when the besieged private equity investment trust said that it had received approaches from “a number of credible parties”. Shares in SVG, which was the subject of a £1 billion hostile bid on Monday from HarbourVest, rose by 21p to 671½p as it also announced a strong increase in its net assets, the key figure used to value investment trusts. The rise in the share price above HarbourVest’s “full and final” offer of 650p a share suggests some shareholders believe a higher offer might be flushed out.

Source: The Times September 16, 2016 22:52 UTC