HgT - Consistent returns from private tech businesses
HgT posted a 12-month net asset value (NAV) total return of 12.2% to end June 2024 (based on preliminary unaudited H124 valuations), maintaining its impressive long-term track record, at 18.6% and 18.3% pa over the last five and 10 years, respectively. Despite the still modest exit activity in the global private equity market, HgT received £347m (or 15% of opening NAV) in proceeds from exits and refinancings in H124. The four full and partial exits signed in 2024 were agreed at an average 13% uplift to their previous carrying values, reinforcing HgT’s portfolio valuations. Accounting for all deals announced to date, HgT’s pro forma available liquid resources were £508m, a robust 70% commitment coverage ratio.Hgcapital Trust is an investment trust company. The policy of Co. is to invest, directly or indirectly, in a portfolio of unlisted companies. Hg Pooled Management Limited and HgCapital LLP (collectively, Hg) primarily invest in companies whose operations are headquartered or substantially based in Europe. These companies operate in a range of countries, but there is no policy of making allocations to specific countries or markets. Investments are made across a range of sectors. Co. may, from time to time, invest directly in private equity funds managed by Hg. Hg Pooled Management Limited has been appointed as Co.'s Alternative Investment Fund Manager.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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