By and  on March 9, 2009

MILAN — The largest investor in private equity group Permira Advisers LLP has written down its stake in Valentino Fashion Group by more than half, confirming a report in WWD.

London-based SVG Capital Plc said Thursday the value of its investment had declined 54 percent in 2008 to 78.6 million pounds, or $111.9 million — although this includes a provision following SVG’s decision to cap its commitment to the fund. SVG wrote down its total portfolio by two thirds.

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