Hg (equity firm)

Hg is a private equity firm targeting technology buyouts primarily in Europe and the US. Hg focuses on investments in technology and services sectors. It invests out of its 8th £2.5 billion core fund and its 2nd £575 million Mercury fund, targeting smaller technology buyouts, both raised in February 2017.[2] Both funds were closed on their hard-caps and were more than 3x oversubscribed versus their targets, receiving strong re-ups from existing investors.[3] The company raised its 1st time £1.5B Saturn large-cap fund in March 2018[4] and in 2020 raised $11B across three funds, Mercury 3, Genesis 9 and Saturn 2.[5]

Hg
TypePrivate limited company
IndustryPrivate equity
PredecessorMercury Private Equity
Founded2000 (2000)
FoundersPartnership
HeadquartersLondon, Munich
ProductsPrivate equity funds, Leveraged buyout
Total assetsUS$30 billion [1]
Number of employees
> 100
Websitewww.hgcapital.com

In total, Hg has more than $30B funds under management.[6] The company has close to 120 employees in three investment offices in London, UK, Munich, Germany, and New York, NY, and serves over 100 institutional investors, including private and public pension funds, endowments, insurance companies and fund of funds.[7]

History

Hg began life as Mercury Private Equity, the private equity arm of Mercury Asset Management plc, a long-established UK-based asset management firm. Mercury Asset Management was acquired by Merrill Lynch in 1997. In December 2000, the executives of Mercury Private Equity negotiated independence from Merrill Lynch, and HgCapital (as it was then known) was established as a fully independent partnership wholly owned by its Partners and employees, who together work with a common purpose and culture.[8]

Investments

Hg is invested in more than 30 companies across Europe and the US, and has invested in over 70 companies since its inception. One of its most prominent investments is Visma, a Scandinavian software business. In August 2020 Hg led the $12.2B buyout of Visma, Europe's largest software buyout to date.[9]

References
  1. https://uk.reuters.com/article/uk-visma-investment/hg-poised-to-invest-about-2-billion-in-software-firm-visma-source-idUKKBN25H1N0. Missing or empty |title= (help)
  2. "HgCapital closes two funds at a total of about 3.1 bln pounds". PE Hub. 16 February 2017. Retrieved 28 August 2017.
  3. "HgCapital LP Profile". Private Equity International. 2 August 2017. Retrieved 28 August 2017.
  4. "Hg hits first close of Saturn fund, launches transition capital strategy". PE Hub. 6 March 2018. Retrieved 8 April 2018.
  5. "Hg Said to Top $11 Billion for Its Largest Ever Buyout Funds". Bloomberg.com. 2020-05-11. Retrieved 2020-09-03.
  6. "Hg poised to invest about $2 billion in software firm Visma - source". Reuters. 2020-08-21. Retrieved 2020-09-03.
  7. "HgCapital About Us". HgCapital. 8 April 2018. Retrieved 8 April 2018.
  8. "The Manager - HgCapital Profile". HgCapital Trust. Retrieved 28 August 2017.
  9. "Hg, TPG seal massive software buyout with $12.2bn Visma deal - Private Equity News". www.penews.com. Retrieved 2020-09-03.
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