SVG’s Strategic Equity Capital has raised £70.4m following its listing on the London Stock Exchange. This is the third fund to be launched by the firm’s public equity team, and the amount raised is the largest primary fund raising for a UK investment trust since the beginning of 2003.
The public equity team now has a total of more than £250m under management, and it will use private equity techniques to invest, primarily, in listed undervalued companies that might benefit from strategic, operational and/or management initiatives.
Investors in Strategic Equity Capital have returned from its predecessor funds the Strategic Recovery Fund and the SVG UK Focus Fund.
On the strategic advisory board of this latest fund are Sir Clive Thompson, deputy chairman of the fund, Ken Minton, former chief executive of Laporte, and Willam Nabarro, former vice-chairman of KPMG Corporate Finance.