The Favourite?

Does "the Favourite" refer to the man (in the Triumvirate)who's favorite to the King?

Background info:

But it was not the affair of Wilkes which had alone perplexed the Triumvirate. They found they were by no means in the confidence of the King. He was continually suggesting new measures to them, which plainly came from a hidden quarter. A fortnight before the death of Lord Egremont, his Majesty had hinted to Grenville that he wished to prevail on Lord Hardwicke to return, if not to his service, at least to his councils. Whether the blow received from the Common Pleas had alarmed the Favourite (who had made but a very short stay at Harrowgate), and had warned him to look out for more support; or whether he thought the three ministers insufficient; or whether, which is most likely, he wished already to get rid of them, especially having detected the underhand practices of Grenville against his son's patent; -in short, whatever was the motive, Grenville could not be ignorant who was author of the advice, and only replied, it would not do. The King insisted, and the overture was made; Hardwicke rejected it, and said he would not abandon Newcastle. The King then commanded the same trial to be made on Newcastle, but with exclusion of Mr. Pitt; and early proof of those crooked councils of division with which the Favourite was afterwards so often charged, and which were so agreeable to the King's natural insincerity. Newcastle haughtily refused the offers made to him. Still were the King's discourses dark and ambiguous; and though affecting to call out for new strength by extending preferments, he had refused, at Grenville's recommendation, to make the Duke of Leeds President of the Council, and Lord Hyde Chief Justice in Eyre.