HgCapital Trust has announced that it is investing £19.7m to acquire a majority investment in The Foundry Visionmongers Ltd, a visual effects software development company, from The Carlyle Group. HgCapital trust is making its investment through HgCapital 7 Fund, alongside other institutional clients of HgCapital, in a transaction that places an enterprise value of £200m on the Foundry. HgCapital say that they will work closely with the Foundry’s management team to help the business accelerate organic growth and will potentially engage in M&A. The transaction will reduce the Trust’s outstanding commitments to invest in HgCapital deals to approximately £166 million (37% of the 30 April 2015 NAV). Based on HG Capital Trusts’s 30 April 2015 reported NAV (including all announced transactions and dividend payment) the trust’s liquid resources available for future deployment are estimated to be £22.3 million (5% of the 30 April 2015 NAV, excluding a £40 million standby facility).
HGT : HgCapital invests in The Foundry Visionmongers