Last checked at 
1 Oct 2018 08:30
HgCapital Trust plc
Hg, the Manager of HgCapital Trust plc ("the Company"), has agreed the sale of Lumesse, a provider of strategic HR software to medium and large sized enterprises, to Saba Software Inc., a global leader in talent development solutions, and a portfolio company of Vector Capital, a leading global technology private equity firm based in San Francisco.
The terms of the transaction were not disclosed.
The sale of Lumesse represents the 18th realisation completed by Hg across all funds over the last 18 months, during which time the firm has returned total proceeds of more than £3.2 billion to investors.
The Company, whose shares are listed on the London Stock Exchange, gives private and institutional investors the opportunity to participate in all Hg's investments.
Note that the following figures only relate to HgCapital Trust's share of Hg's overall investment in Lumesse.
The Company will realise estimated cash proceeds of approximately £1.5 million on completion of this transaction. Based on the 31 August 2018 NAV, the Company's liquid resources available for future deployment, including all announced transactions, are estimated to be 140 million (18% of the pro-forma 31 August 2018 NAV of £772.2 million). In addition, the Company has access to an £80 million standby facility, which is currently undrawn.
For further details:
Hg
Laura Dixon | +44 (0)20 7089 7888 |
Maitland
Vikki Kosmalska and Seda Ambartsumian | +44 (0)20 7379 5151 |
About HgCapital Trust plc
HgCapital Trust plc, whose shares are listed on the London Stock Exchange (ticker: HGT.L), gives investors exposure through a liquid vehicle to a portfolio of high-growth private companies in the technology and tech-enabled sector. The selection of new investments and creation of value in these businesses are managed by Hg, an experienced and well-resourced private equity firm with a long-term track record of delivering superior risk-adjusted returns for its investors. For further details, please see www.hgcapitaltrust.com.
The contents of the HgCapital Trust, Hg, Saba Software, Lumesse and Vector Capital's websites and any website accessible from hyperlinks on such websites (or any other website) are not incorporated into, and do not form part of, this announcement.