HgCapital Trust to invest £31.6m in price reporting firm – HgCapital Trust (HGT) plans to invest £31.6m in Argus Media, a global provider of energy and commodity price reporting. The investment will be carried out by Hg, HGT’s manager, alongside other institutional investors in its Hg Saturn Fund.
Dry powder of £134m available
Based on the 31 August 2019 NAV, the company’s liquid resources available for future deployment, including all announced transactions and the dividend to be paid on 25 October 2019, are estimated to be £134m (14% of the pro-forma 31 August 2019 NAV of £984.3m). In addition, the company has access to an £80m standby facility, which is currently undrawn. The investment will reduce the company’s outstanding commitments to invest in Hg transactions over the next two years to approximately £310m.
HGT: HgCapital Trust to invest £31.6m in price reporting firm
HGT: