Hg invests in Dext
Hg, the Manager of HgCapital Trust plc ("HGT"), today announces an investment in Dext, a leading provider of pre-accounting software.
The terms of the transaction have not been disclosed and closing is subject to closing conditions.
HgCapital Trust plc will invest approximately £12.6 million in Dext, with other institutional clients of Hg.
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 HGT's share of Hg's overall investment in Dext.
HGT's liquid resources available for future deployment (including all announced transactions, the proposed full-year dividend payable in May 2021 and equity raised via tap issuance) are estimated to be £136 million (10% of the 28 February 2021 pro-forma NAV of £1.3 billion). In addition, HGT has access to a £200 million standby facility, which is currently undrawn.
The investment will reduce HGT's outstanding commitments to invest in Hg transactions to approximately £501 million (38% of the 28 February 2021 pro-forma NAV).
For further details:
Laura Dixon +44 (0)20 8396 0930
Samantha Chiene +44 (0)207 404 5959
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 and Dext websites are not incorporated into, and do not form part of, this announcement.