(Alliance News) - HgCapital Trust PLC on Friday said its manager Hg will invest in European insurance brokerage platform, GGW Group GmbH.
HgCapital Trust is a London-based investor that provides access to the private equity investments of London-based manager Hg.
GGW is based in Hamburg with offices also in Austria, Switzerland and Turkey. It describes itself as a partnership of owner-managed insurance brokers and underwriting agents.
HgCapital Trust said the deal will close in the second quarter of 2024. Financial terms were not disclosed.
HgCapital Trust itself will invest around GBP44.2 million in GGW.
Shares in HgCapital were up 1.5% at 430.46 pence each in London on Friday.
By Sabrina Penty, Alliance News reporter
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HgCapital Trust plc (HGT)