17 December 2019

Edison: HgCapital Trust - Good momentum continues

Hg Capital Trust’s (HGT) investment activity in 2019 to end-November has been broadly in line with last year, while the volume of realisations was lower following an exceptionally strong 2018 and 2017. HGT’s NAV total return (TR) to end-September 2019 was a solid 18.4%, backed by revaluations of portfolio holdings, which continue to deliver good operational performance. Following several major new and follow-on investments in 2019 (including team.blue, Transporeon, Visma, Litera Microsystems and Argus Media), HGT’s coverage ratio increased to c 80% in September 2019 from 50% at end-2018. That said, HGT expects to announce further commitments to invest alongside Hg funds in early 2020.

Read the full article here (PDF).