CORRECT: HgCapital Trust reports GBP19 million investment in Diamant

(Correcting distinction between HgCapital Trust and Hg.)

(Alliance News) - HgCapital Trust on Monday announced that it will invest approximately GBP19 million in Diamant Software.

HgCapital Trust is the London-based provider of access to the private equity investments of its manager Hg.

The company did not disclose the terms of the transaction, which is subject to customary closing conditions.

Diamant, a Germany-based provider of accounting and financial controlling solutions, will enter into a strategic partnership with Hg.

HgCapital Trust said the partnership "will accelerate development of Diamant's cloud software in the age of AI, further enhance customer service, and strengthen the company's network of sales partners."

The company said that Diamant's founders, Peter Semmerling and Jan Semmerling, will remain "significant" shareholders in the business.

HgCapital Trust said its liquid resources available for future deployment are estimated to be GBP360 million.

The firm said the investment will reduce its outstanding commitments to invest in Hg transactions to approximately GBP1.7 billion.

Benedikt Joeris, a partner at Hg, said: "Diamant Software is an excellent example of a fast-growing German software company with clear technical differentiation and deep expertise in accounting and financial controlling.

"We're excited to support the company and its people through the next phase of growth, and to invest together in innovation and outstanding customer service - while preserving Diamant's unique entrepreneurial spirit as the foundation for the journey ahead."

Shares in HgCapital rose 1.5% to 482.00 pence on Monday afternoon in London.

By Roya Shahidi, Alliance News reporter

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