8th Mar 2016 08:41
LONDON (Alliance News) - Private equity firm HgCapital on Tuesday said it invested in Trace One SA, a software provider headquartered in France, with the London-listed HgCapital Trust PLC it manages to contribute about GBP4.5 million to the deal.
HgCapital Trust will invest in Trace One alongside other institutional clients of its investment manager, which will participate through the Mercury Fund. The terms of the transaction were not disclosed.
Based on the trust's net asset value of GBP543.1 million on February 29, its liquid resources available for future deployment, including all announced transactions and the proposed dividend payable in May 2016, are estimated to be GBP37.5 million.
In addition, the trust has access to a GBP40 million standby facility, which is currently undrawn. The investment in Trace One will reduce the trust's outstanding commitments to invest in HgCapital deals to about GBP118 million, 22% of February 29 NAV.
Shares in HgCapital Trust were up 0.4% at 1,084.99 pence on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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