20th Oct 2020 10:30
(Alliance News) - HgCapital Trust PLC said Tuesday it has invested a further GBP38.8 million in Access Group.
The private equity investor said it is investing alongside other institutional clients of Hg, through the Hg Genesis 8 Fund.
HgCapital Trust first invested in Access Group - a payroll software firm - in 2018, and prior to Tuesday's investment it was HgCapital Trust's fourth most valuable investment.
HgCapital Trust said its liquid resources available for future deployment is estimated at GBP159 million, which is 14% of its August 31 NAV of GBP1.16 billion. It also noted it has access to an GBP200 million standby facility, which is currently undrawn.
Shares in HgCapital Trust were 0.9% higher in London on Tuesday at 288.50 pence each.
By Paul McGowan; [email protected]
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