HgCapital makes £9.4m investment in Pirum Systems

(Sharecast News) - Investment firm HgCapital Trust revealed on Friday that it has made an approximately £9.4m investment into post-trade automation and collateral management technology provider Pirum Systems.
The terms of the transaction were not disclosed and the transaction remained subject to regulatory approval.

HgCapital said that liquid resources available for future deployment following the investment were now estimated to be £311.0m and added that the investment also reduced its outstanding commitments to invest in Hg transactions to approximately £418.0m.

Hg partner Sebastien Briens said: "Hg invests in businesses that are champions in their field, with compelling long-term growth prospects underpinned by strong technological foundations and talented leadership teams.

"Pirum has all of these qualities and is a business we have tracked for many years through our capital markets technology focus. We look forward to backing Phil and his team, and to partnering with Bowmark to further scale what is already a great platform, driving continued automation of post-trade workflows."

As of 0810 GMT, HgCapital shares were up 0.24% at 422.0p.