HgCapital, the Manager of HgCapital Trust has announced that is has made an investment in Evaluate Group, a London-headquartered provider of commercial intelligence to the global life sciences industry. The terms of this transaction have not been disclosed. HgCapital Trust plc will invest in Evaluate, alongside other institutional clients of HgCapital, who will participate through the Mercury Fund. This acquisition represents the eleventh investment by the Mercury Fund and, following completion, the Fund will be approximately 72% invested. The Trust will contribute a total of approximately £3.7m.
HgCapital trust says that, based on the 31 October 2016 reported NAV, its liquid resources available for future deployment, including all announced transactions, are estimated to be £43 million (7% of the pro-forma 31 October 2016 NAV). In addition, the Trust has access to a £40 million standby facility, which is currently undrawn. The transaction will reduce the Trust’s outstanding commitments to invest in HgCapital deals to approximately £67m (11% of the pro-forma 31 October 2016 NAV).
Evaluate is a provider of commercial information for complex business decisions to the pharmaceutical industry. Its core product is a set of analyst consensus forecasts that provides detailed insights at the product, disease, indication and geographic level. HgCapital says that Evaluate creates value by structuring, normalising and integrating data from company filings, research organisations, and government bodies and providing tools that drive analytical insights from data.
HgCapital Trust to contribute £3.7m to an investment in Evaluate Group : HGT