Goldman Sachs and pension giant the Canadian Pension Plan Investment Board have emerged as a rival to HarbourVest Partners in the battle for the assets of listed private equity investor SVG Capital.

SVG announced on October 3 that it was in discussions with a consortium comprising the pair regarding a sale of its investment portfolio, rather than an outright bid for the company that would place it in direct competition with HarbourVest. But SVG added the consortium had not ruled out making a direct competing offer.