SVG Capital, a UK-listed private equity investment manager, is firming up its balance sheet by raising more than £200m (€255m) through the launch of a convertible bond and the sale of its interests in other buyout funds as it looks to protect itself from lower investment returns expected over the next year.

SVG said the convertible bond and secondaries asset sale proceeds would be used to invest in new private equity funds, investment vehicles launched by its sister firm, SVG Advisers, and general corporate purposes.