HgCapital Trust invests further GBP46 million in OneStream and Septeo

(Alliance News) - HgCapital Trust PLC on Monday said it has injected a further GBP46 million in total in OneStream and Septeo Group, following previous investments in the duo.

HgCapital back in January announced it would invest around GBP93 million in OneStream, a financial software company, through the Hg Saturn 4 fund. HgCapital Trust provides exposure to investments managed by Hg.

HgCapital said Hg has subsequently sealed an over-subscribed syndication of USD1.5 billion of OneStream equity, alongside the Hg Saturn 4 fund. As part of the syndication, HgCapital has invested a further USD9 million in OneStream. It takes its total investment in OneStream to around GBP100 million.

In addition, the firm noted Hg signed the partial sell-down of more than EUR500 million worth of Septeo equity, at the December 31 valuation, to a group of institutional investors.

"As part of this transaction, HgT has taken the opportunity to convert EUR45 million of its existing NAV exposure in Septeo via the Hg Genesis 9 fund into fee-free co-investment, by co-investing in a structure alongside the new investors coming into the business," HgCapital said.

"Together these two transactions, both of which were agreed during a period of heightened volatility in public markets, reflect continued demand in the private markets for Hg's portfolio investments."

HgCapital shares were up 0.4% to 399.68 pence each on Monday at midday in London.

By Martin Miraglia, Alliance News reporter

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