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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Hg Capital Trust Plc | HGT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 4.00 | 0.83% | 484.00 | 13:38:09 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 486.00 | 479.50 | 486.50 | 480.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 11/8/2022 08:29 by mrnumpty The obvious reason for HG being up 4.5% and over £ 4.00 in the first twenty minutes of today’s trading is that it has been tipped as a “ buy “ ( at £ 3.89 ) in the Questor section on today’s Telegraph ( page 23 ) . The article points to recent profitable sales of some investments by HG and states that “ if anything , its valuations are onthe conservative side “ . JP Morgan Cazenove estimates HG’s NAV at £ 4.68.8 compared with the official March figure of £ 4.33.1 . The Telegraph also mentions HG’s “ exceptional returns if 427% over the past decade . Fortunately I recently felt that the unprecedentedly deep discount was probably a result of investors taking fright at being invested in unquoted companies , whose valuations are only estimated every three months , so I bought back in . Happy news in a world of gloom ! |
Posted at 25/4/2021 18:48 by its the oxman Guess if you look at position today a good short term trading case can be made for jpel but look at their share price performance over the last three years v hgt and you can see why hgt still remains attractive in many investors eyes. |
Posted at 29/9/2020 18:29 by 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." |
Posted at 10/6/2019 07:29 by p1nkfish Note raising, £80M£10M from internal. Balance from Qualified Investors. Contact Numis, no members of public. |
Posted at 14/3/2019 08:46 by robow Questor in The Daily Telegraph likes it alotQuestor: buy this trust for a stake in ‘Europe’ 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” 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-larges 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/DTquesto 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 “clusters̶ “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 “carrying̶ “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 “impressive “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 |
Posted at 14/10/2014 14:46 by seekerofvalue HGT is currently trading at £10.15p a two month low, this after announcing theRecommended Cash Offer for Allocate Software plc. This move by HGT is rather unexpected at the time when other Private equity investors are making divestments. HGT are clearly attracted to the Healthcare sector where the pursuit of efficiencies, could continue to drive revenues for Allocate for many years. |
Posted at 11/7/2014 10:45 by seekerofvalue INVESTMENT OBJECTIVEHgCapital Trust plc, which was established in 1989, is an investment trust listed on the London Stock Exchange (ticker: HGT.L). The Trust’s objective is to provide shareholders with long-term capital appreciation in excess of the FTSE All-Share Total Return Index by investing in unquoted companies. The Trust provides investors with exposure to a diversified portfolio of private equity investments primarily in the UK and Continental Europe. HGT has a historical share price performance of 7.2% per annum. 16.0% p.a. 10-year compound annual growth rate of the share price vs. 8.8% p.a. from the FTSE All-Share Index, both calculated on a total return basis to 31 December 2013. hxxp://hgcapitaltrus The HGT share price has under-performed over the past over the 3 years. Therefore with the Private Equity market currently having a renaissance HGT could improve their recent below par share price performance. A Continuation vote in 2015 should also encourage the HGT board to seek realisations on certain long standing investments. KEY FINANCIALS hxxp://hgcapitaltrus NET ASSET VALUE NAV per share 1159.5p on 31st May 2014 hxxp://hgcapitaltrus CURRENT INVESTMENTS hxxp://hgcapital.com Top 20 buyout investments as at 31 May 2014: hxxp://hgcapitaltrus INVESTMENT CASE STUDUES hxxp://hgcapital.com PUBLICATIONS hxxp://hgcapitaltrus SUBSTANTIAL SHAREHOLDERS hxxp://hgcapitaltrus Price paid on 10th JULY 2014 £10.40p Yield 2.28% Discount to NAV of £11.595p is 10% Friday, 11 July 2014 HgCapital announces investment in Sequel Business Solutions hxxp://www.sequel.co Thursday, 21 August 2014 HGCapital have reported a 5.8% increase of NAV to £12.20p The Board have approved a special dividend of 19 pence per share to be paid on 26 September 2014, reflecting a one-off dividend receipt from Visma. hxxp://www.hgcapital Tuesday, 14 October 2014 HGCapital announces the Recommended Cash Offer for Allocate Software plc. Monday 15 December 2014 HgCapital, the Manager of HgCapital Trust plc, has agreed the acquisition of A-Plan Insurance ("A-Plan"),a leading UK insurance broker. The terms of the transaction were not disclosed FLAG COUNTER |
Posted at 07/4/2014 17:31 by marben100 TDay,What that means is that investors buying today should get a double whammy in the fullness of time: a) Significant gains in NAV should be acheived when the current portfolio of businesses is realised; b) NAV increases should lead to a narrowing of the discount gap, i.e. an exra boost to the share price Performance hasn't been great the last few years, against a backdrop of a tough UK & European economy. I'm expecting better in the years to come, though my HGT holding is smaller having also trimmed higher up. If the discount gets wide enough I'd look to add some of those back. Cheers, Mark Twitter @marben100 |
Posted at 03/7/2012 09:10 by damanko HgCapital Trust's NAV rises on realisation of SHLHgCapital has agreed to sell its investment in SHL. Upon completion of the transaction which is expected to happen early in August 2012, HgCapital Trust plc, the listed investment trust which invests in all HgCapital's deals alongside its institutional clients, will realise estimated cash proceeds of approximately £27.1 million. This represents an uplift of £5.4 million over the carrying value of £21.7 million in the Net Asset Value (NAV) of the Trust at 31 May 2012 which was based on the Directors' most recent valuation. On completion, the transaction will increase NAV per share by approximately 17.2 pence (basic) and 14.7 pence (fully diluted*). Based on the 31 May 2012 NAV and the impact of this transaction, the NAV of HgCapital Trust plc is estimated to be £349.1 million (1,096.9 pence per share basic; 1,075.3 pence per share fully diluted*). The sale proceeds represent a multiple of more than three times the original cost of £9.0 million. Based on the 31 May 2012 NAV and the effect of this transaction, liquid resources (including a £40 million undrawn bank facility) are estimated to increase to £100.5 million (29.2% of the estimated NAV). *The calculation of fully diluted earnings per share assumes that all subscription shares in issue are exercised at their minimum price of 950 pence. Set out below is the text of a press release issued today by HgCapital announcing the transaction. HgCapital announces the sale of SHL London, 3 July 2012: HgCapital has today announced the sale of SHL, the global leader in talent measurement, to The Corporate Executive Board Company ("CEB") (NYSE: EXBD) for $660 million. SHL was acquired by funds managed by HgCapital in October 2006 as a public to private transaction and subsequently merged with Previsor, a US based competitor, in January 2011. The sale to CEB represents an investment multiple in excess of 3.1x original cost and a gross IRR of 26% over the investment period for HgCapital's investors. The sale of SHL represents HgCapital's sixth realisation from its HgCapital 5 Fund, which now has delivered a realised investment multiple and IRR of 2.7x and 30% respectively. It will have returned over 120% of invested capital back to investors since HgCapital 5 was raised in 2006, with seven active investments still remaining in the portfolio. Since the start of the global economic downturn in the autumn of 2008, HgCapital has been an active seller realising a total of twelve investments over this period (versus an active unrealised portfolio of 24 investments) and returning approximately £1.1 billion in proceeds to clients at a time of economic uncertainty |
Posted at 15/5/2012 13:03 by marben100 I attended HGT's AGM and have written an extensive report on the company and the AGM here: (sorry, but you'll need to be a member of ShareSoc to read the report - details below)I've been an investor since 2005 and it seems like a bargain at the current historically large discount to NAV. Especially so, as the company is in the early stages of the HgCapital 6 investment phase, its investee companies are growing well, despite macro issues, and good returns can be expected when the trust moves to the realisation phase. NB According to HgCapital's CEO, the average gain on realisation vs book value has been 56% historically. If you're not already a member you can join ShareSoc as an associate member FOC, here: Sorry not to just make the report publicly available, but considering that attending the meeting and writing the report has taken well over a day of my time, I don't think it's too much to ask that readers support a non-profit organisation that campaigns for shareholder rights, in return. I am a director of ShareSoc on a voluntary, unpaid basis. Regards, Mark |
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