HgCapital Trust PLC Investment in TigerRisk Partners (3746O)
June 09 2022 - 9:56AM
UK Regulatory
TIDMHGT
RNS Number : 3746O
HgCapital Trust PLC
09 June 2022
Hg, the Manager of HgCapital Trust plc ("HGT"), today announces
an investment in TigerRisk Partners, ("TigerRisk") a leading risk,
capital and strategic advisor to the global insurance and
reinsurance industry, which is being acquired by Howden Group
Holdings.
The terms of the transaction have not been disclosed and
completion is subject to closing conditions.
HGT will invest approximately GBP7.4 million in the transaction,
with other institutional clients of Hg investing alongside HGT
through the Hg Saturn 2 Fund.
HGT announced its original investment in Howden Group Holdings,
a leading international insurance group (previous known as Hyperion
Insurance Group Limited), in 2020.
HGT, whose shares are listed on the London Stock Exchange, gives
private and institutional investors the opportunity to participate
in all Hg's investments.
Note that these figures only relate to HGTs share of Hg's
overall investment in TigerRisk.
HGT's available liquid resources, which includes the undrawn
bank facility of GBP250 million for future deployment, are
estimated to be GBP429 million (21% of the 31 March 2022 pro-forma
NAV of GBP2.1 billion).
This investment will reduce HGT's outstanding commitments to
invest in Hg transactions to approximately GBP610 million (29% of
the 31 March 2022 pro-forma NAV).
Later today a full press release from Howden Group Holdings can
be found on:
https://www.howdengroupholdings.com/news/index.html
For further details:
Hg
Tom Eckersley +44 (0)208 148 5401
HgCapital Trust
Laura Dixon +44 (0)20 8396 0930
Brunswick
Samantha Chiene +44 (0)207 404 5959
Hg@brunswickgroup.com
About HgCapital Trust plc
HgCapital Trust plc, whose shares are listed on the London Stock
Exchange (ticker: HGT.L), gives investors exposure through a liquid
vehicle to a portfolio of high-growth private companies in the
software and services sector. The selection of new investments and
creation of value in these businesses are managed by Hg, an
experienced and well-resourced private equity firm with a long-term
track record of delivering superior risk-adjusted returns for its
investors. For further details, please see
www.hgcapitaltrust.com.
The contents of the Hg, HgCapital Trust, Howden and TigerRisk
Partner's websites are not incorporated into, and do not form part
of, this announcement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCUKVSRUUUNRAR
(END) Dow Jones Newswires
June 09, 2022 10:56 ET (14:56 GMT)
Hg Capital (LSE:HGT)
Historical Stock Chart
From Apr 2024 to May 2024
Hg Capital (LSE:HGT)
Historical Stock Chart
From May 2023 to May 2024