4th Sep 2024 16:31
(Alliance News) - HgCapital Trust PLC announced on Wednesday that its manager, Hg, has invested in Ncontracts, a provider of integrated compliance, risk and vendor management solutions to the financial services industry.
HgCapital is an investment firm headquartered in London that participates in the private equity investments of Hg.
HgCapital Trust is due to invest approximately GBP30.7 million in Ncontracts, with other institutional clients of Hg investing alongside HgCapital Trust through the Hg Genesis Fund. Hg will buy out prior Ncontract shareholders Gryphon Investors.
It will also buy out prior shareholders in Venminder, a platform for managing third-party risk. Ncontracts announced it has acquired Venminder, HgCapital Trust added.
The terms of the transaction between Hg and Ncontracts were not disclosed.
Shares in HgCapital Trust rose 1.2% to 517.00 pence each in London on Wednesday afternoon.
By Emily Parsons, Alliance News reporter
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