HarbourVest has been overtaken in the race for SVG Capital after the private equity firm accepted a rival offer from a consortium led by Goldman Sachs David Gray/ReutersHopes that the £1 billion battle for one of Britain’s largest private equity trusts was nearing an end suffered a setback yesterday when a struggling bidder pushed back a deadline. HarbourVest has been kicked into second place in the contest after SVG Capital accepted a rival offer from a consortium led by Goldman Sachs. However, the Boston-based private equity firm has extended the deadline for SVG shareholders to accept its offer in the hope that it can increase acceptance to above 50 per cent. SVG Capital said that it wanted to sell its investment portfolio to the Goldman consortium for…

Source: The Times October 07, 2016 23:15 UTC