SVG Capital first-quarter NAV rises

FTSE 250 private equity investor SVG Capital said its net asset value per share rose 2% in the three months to 30 April to 666p, with NAV up 13% over the 12 months.

Meanwhile, the investment portfolio saw a total return of 2% in the quarter and 12% over the 12 months.

SVG's post-2012 investment portfolio – 41% of the net investment portfolio – delivered a 4% total return over the first quarter.

Chief executive officer Lynn Fordham said: “We are pleased with the continued performance of our investments. Over £730 million has now been invested or committed to the post-2012 investment programme and our strong balance sheet positions us well to continue to take advantage of further compelling investment opportunities across the asset class."

SVG said it is well-positioned to take advantage of investment opportunities. In the short term, it will be making a $215m commitment to a new US-based manager, taking its manager relationships to seven.

In addition, it expects to make one further commitment during the course of this year and said it will continue to invest selectively in compelling opportunities across the asset class.

At 1022 BST, SVG shares were down 0.2% to 539p.