19th Jun 2023 08:35
(Alliance News) - HgCapital Trust on Monday noted its manager, HG, has agreed to a part realisation of its investment in Azets Group.
The London-based investment vehicle that provides shareholders access to the unquoted businesses managed by New York-based Hg said Pai Partners has joined Azets as a new investor and will hold an equal and controlling stake in the company alongside Hg.
Aztes is a London-based provider of business-critical accounting, tax, payroll, audit and advisory services to small and medium-sized enterprises.
Pai Partners is a London-based equity firm.
Details of the transaction were not disclosed, and completion is subject to regulatory approvals.
HG Capital Trust's investment in Azets is approximately GBP54.3 million.
Shares in HG Capital Trust were up 1.4% at 395.00 pence each in London on Monday morning.
By Sabrina Penty, Alliance News reporter
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