SVG Capital, a UK-listed private equity investment manager, appears to have pulled through one its most difficult periods in its history by announcing a substantially strengthened set of accounts after a series of bold changes to bolster its balance sheet. It has continued to press ahead with its overhaul with the departure of one of its most senior executives.

The firm has reported its net asset value, the value of a fund's investments, fell 64% to 348.1p per share over the year, according to its annual results for 2008 posted today. It posted a loss of £862.4m (€970.6m), compared with a pretax profit fit of £153.3m a year earlier.