Hg Capital Dividends - HGT

Hg Capital Dividends - HGT

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Hg Capital Trust Plc HGT London Ordinary Share GB00BJ0LT190 ORD 2.5P
  Price Change Price Change % Stock Price Last Trade
-2.50 -0.74% 333.50 09:45:58
Open Price Low Price High Price Close Price Previous Close
340.00 331.50 340.00 336.00
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Industry Sector

Hg Capital HGT Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

tykethat: As usual when my monthly buy order goes in the price goes up! HGT are a genuine high quality outfit whose long term record is very good.
mrscruff: Makinbuks your not on your own now and yes we need to trust them. With private equity you are really buying into the company HG. Just like you would with HarbourVest. Both have strong track records with HG in London and HarbourVest in the US. The fees are there because private equity actively participate in the running of the business even after the intensive due diligence. In a way both can't be looked at like a fund like BMO Private Equity or Pantheon who tend to simply buy a fund. This is more like a Microsoft or Google who own lots of companies. The listed SAAS sector has risen strongly. Europe stocks have rallied. HGT will catch up on performance chasing alone. I suspect as much as 20 percent before H2 presuming equity markets remain strong.
lasata: Is this bullish news for HTG? NS Number : 4973A HgCapital Trust PLC 29 September 2020 Hg, the Manager of HgCapital Trust plc ("HGT"), today announces an investment in Hyperion Insurance Group Limited ("Hyperion"), the international insurance intermediary. The full terms of the transaction are not disclosed. HgCapital Trust plc will invest approximately GBP33.1 million in Hyperion, with other institutional clients of Hg investing alongside HGT through the Hg Saturn 2 Fund. 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 Hyperion. HGT's liquid resources available for future deployment (including all announced transactions and the interim dividend payable in October 2020) are estimated to be GBP278 million (24% of the 31 August 2020 pro-forma NAV of GBP1.16 billion, including the increase in equity via tap equity issues over the third quarter of 2020). The investment will reduce HGT's outstanding commitments to invest in Hg transactions to approximately GBP759 million. Hg invests in Hyperion in a transaction valued at US$5 billion Transaction and debt raise will provide up to $1.5bn to accelerate strategic growth and Hyperion's focus on technology and data London, UK. 29(th) September, 2020 - Hg, a leading European investor in software and tech-enabled services businesses, today announces that it will make a significant long-term equity investment in Hyperion Insurance Group Limited ("Hyperion"), the international insurance intermediary. The transaction values the business at an enterprise value of around US$5 billion. In conjunction with an additional debt raise and existing resources, the investment will provide Hyperion with up to $1.5bn to accelerate its growth with both selective acquisitions and investments in data and technology. Hg will join Hyperion as an aligned, long-term, growth partner alongside General Atlantic, which invested in Hyperion in 2013, and CDPQ, which invested in Hyperion in 2018. Both General Atlantic and CDPQ remain committed to being partners of Hyperion alongside Hg. The Hyperion management team and employees will remain the largest shareholder group in the company, with more than 1,000 individuals now owning shares. The transaction establishes a sustainable, long-term capital model with core employee ownership supported by collaborative investment partners, enabling Hyperion to build out Howden as a leading international challenger broker and DUAL as an international specialist MGA. The full terms of the transaction are not disclosed and closing is subject to obtaining relevant regulatory approvals. Founded in 1994 and headquartered in London, Hyperion is a leading international insurance distribution group. Through its core activities of retail, speciality & reinsurance broking and through DUAL, one of the world's leading international MGAs, it facilitates the provision of B2B insurance across a wide geographic footprint. The Group operates across 200+ global offices in 40 countries and employs c.6,000 people to manage c. $9.0 billion of Gross Written Premium ("GWP") on behalf of its clients. It is the 5(th) largest employee-owned business in the UK and has a differentiated position as a leading international insurance intermediary. The investment continues Hg's focus on insurance distribution and insuretech. Hyperion will represent Hg's sixth investment in the wider sector over the last 5 years - with these businesses together totalling over $1 billion of invested client capital. Hyperion's broking arm, Howden, recently announced it had reached agreement to acquire A-Plan Group from Hg. Hg helped to drive a focus on embedding data and technology in A-Plan Group's best-in-class service model over its investment period. This experience in technology will also benefit Hyperion X, the Group's digital, data and analytics business. David Howden, Chief Executive Officer of Hyperion, said: "I am thrilled to welcome Hg as a long-term partner. During our conversations on A-Plan Group it was clear that Hg and Hyperion share an understanding of what building a business to last means for employees and clients. This, the quality of the Hg team, their support for our core employee ownership and our culture of empowerment, and the desire of the Hg partners to contribute to our digital and data strategy, makes them an excellent partner to join General Atlantic and CDPQ as we continue our journey." Andrew Land, Partner at Hg, said: "It is a privilege for Hg to back David and his fantastic team through this investment in Hyperion. The company is a unique and special business, driven by its outstanding culture and quality of talent, and it has a significant growth opportunity across the global insurance sector in the coming years. We got to know David during the recent sale by Hg of A-Plan Group to Hyperion, and it became clear that our long-term investment approach and specialism in technology were a great match for him and his team. In addition to providing capital, Hg's deep knowledge of software and data will help Hyperion stay at the forefront of technology adoption across the insurance sector." Nic Humphries, Senior Partner at Hg, said: "This long-term investment in Hyperion reflects Hg Saturn's strategy of backing entrepreneur-led growth businesses in software and tech-enabled services that are sector champions. In Saturn's recent investments in Visma, P&I, Argus Media, Sovos and now Hyperion, we developed a trusted relationship with the founder or CEO over a long period, enabling us to offer them the investment structure they needed to meet their long-term plans. David and his team have built one of the global leaders in insurance distribution and we are excited in supporting them for many years to come." Dominic Collins, Chairman of Hyperion, said: "I am delighted that Hg have chosen to become a partner alongside General Atlantic and CDPQ. It is a privilege to work with three partners who embrace our core ambition to build a sustainable and successful business, and who will help us to deliver on our strategy over the coming years at this very exciting time in the industry. The Hg team bring not only significant capital, but also considerable expertise and I look forward to welcoming them to the Board."
technovator: I see HGT is still defying gravity with it's non-independent valuations of it's unlisted holdings. Reminds me some of Neil Woodford's funds! GLG opened a short over the last couple of weeks.
rambutan2: Even HGT can't defy gravity: Our valuation policy is applied consistently, in accordance with the IPEV Valuation Guidelines. Each company has been valued individually, based on the trading multiples of comparable businesses and relevant and recent M&A activity; this resulted in an average EBITDA multiple for the top 20 buyout investments of 19.8x (19.5x at 30 June 2019). hTtps://www.hgcapitaltrust.com/~/media/Files/H/Hgcapital-Trust/reports-and-presentations/2020/report-and-accounts-annual-2019.pdf
psync: Impressive results in the Q3 report this morning. NAV is given as 249.8p so the share price might be toppy but perhaps not out of touch with reality. This sounds a little bit forboding: "Despite the persisting heat of the current market, we do continue to see attractive investment opportunities in our target clusters, just as we did in the closing stages of the last period of high valuations, in 2005 to 2008" games - I also bought Pantheon along with HGT, though much more recently. Good to hear you're still holding. Have you trimmed those positions back over the years?
p1nkfish: The PE side in general tends to be illiquid so I'm thinking some money is currently avoiding or reducing PE exposure in expectation of a liquidity event some time relatively soon - say 6 months or so. I might be rationalizing something away but I do think liquidity will matter more soon than it has in the recent past and HGT is a partial symptom along with others.
skyship: Posted on 16th June on the PE thread - see below. Looks as though reality kicking in here; and pinkfish may well be right with his projection. =============================================== HGT didn't quite achieve their target of an £80m placing at a 1% premium to the May'19 NAV of 214.8p. But in the light of the incredible chutzpah of that target, they still managed to convince institutions to part with £64m of other people's money at 217.1p. Excuse my cynicism; but a PE trust like this trading at a 1% premium to NAV and on a yield of just over 2% - I just don't see the value. https://uk.advfn.com/stock-market/london/hg-capital-HGT/share-news/HgCapital-Trust-PLC-Result-of-Placing/80133903
robow: Questor in The Daily Telegraph likes it alot Questor: buy this trust for a stake in ‘Europe’s third-largest software company’ The trust's name derives from the chemical symbol, Hg, as the management first emerged from the former Mercury Asset Management. Richard Evans Questor investment trust bargain: HgCapital buys stakes in unlisted firms, many of which operate in profitable niches. Collectively they would amount to a very large business How would you like to own a stake in Europe’s third-largest software company – and buy that stake via an investment trust at a discount of about 6pc? What is the name of this software firm, you may be asking. In fact, you won’t find it in any list of quoted, or even unquoted, businesses. This is because the “company”; we are referring to is actually the various software interests found in the funds in which a 
London-listed investment trust, HgCapital, invests. This sounds like a complicated series of relationships and so it is. But it is worth understanding because HgCapital is regarded by many in the City, investors and analysts alike, as unique both in what it does and in the success it has achieved. The HgCapital Trust, the entity in which readers can actually invest, is managed by a company called Hg (a name that nods to its origins in the private equity arm of Mercury Asset Management: Hg is the chemical symbol for mercury). Hg as a fund management firm also runs four unlisted funds (Saturn, Genesis, Mercury and Transition Capital). These four funds attract money from institutional investors but HgCapital Trust invests alongside the The four funds invest in unlisted companies, many of which are software businesses. It is the four funds’ stakes in these software firms that would collectively amount to Europe’s third-largest software company. It could even be the 
second-largest before long, behind only Germany’s SAP. This is not the only reflection of Hg’s importance as a backer of software firms: it was the most active global technology investor in 2018, according to PitchBook, a financial database. This may make it sound like a rival to the influential and admired tech funds of Silicon Valley, but it is not a “venture capital” fund because it invests in companies that have already become established and profitable. Read Questor’s rules of investment before you follow our tips. See Questor's tips every day at twitter.com/DTquestor Its aim is not, in other words, to nurture the next Uber or Netflix but to make steady returns from successful tech businesses and from some investments in other sectors such as insurance and the automotive industry. Whether in software or not, all of Hg’s investments share the characteristics of recurring sales, intellectual property protection, a fragmented customer base (which avoids the risks involved when a few large customers provide much of a firm’s sales), services that are critical to the businesses to which they are sold but are relatively low-cost, and high profit margins, according to Numis, one of Hg’s brokers. Hg’s investments concentrate on industries where it has made successful investments in the past, and it has identified eight market “clusters̶1;, such as healthcare, accounting and legal and compliance services, to focus on. “It looks for business niches. Most of the firms it invests in are not household names,” said Charles Cade from the broker. Like any private equity investor, Hg seeks to sell its holdings after a number of years. Mr Cade said it had typically been selling its stakes at 30pc above their “carrying̶1; value on its books. This partly reflected the firm’s “conservative” approach to valuation, he added. “Everyone in private equity rates Hg very highly. When stakes in its unlisted funds change hands in private deals, they often do so at a premium,” Mr Cade said. Numis described HgCapital Trust’s long-term track record as “impressive221;, with a total return of 13.9pc a year over the past 20 years on the basis of net asset value. The FTSE All-Share Index has risen by just 5pc a year over the period. “Performance has been particularly strong over the past five years, at 16.6pc annually against 4.1pc for the index, as the portfolio has become more focused on Hg’s ‘sweet spot’ of profitable growth businesses with a high level of recurring income,” the broker added. “A favourable climate for realisations [sales] has been supportive, but the majority of Hg’s value creation has come from revenue growth, principally organic, and margin expansion. “HgCapital is a unique vehicle that is clearly differentiated from other listed private equity funds.” Questor says: buy Ticker: HGT
rambutan2: Well, if they (again) do a share issue at much of a discount, it won't go down well. And of course, historically HGT trades at a tighter, single fig discount, compared to the rest of the sector. In any case, the results read well and it remains a long term hold in my portfolio.
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