Hg Capital investment in smartTrade Technologies – HgCapital Trust will invest approximately £17.5m in smartTrade Technologies, with other institutional clients of Hg investing alongside through the Hg Mercury 2 Fund.
The investment will reduce the company’s outstanding commitments to invest in Hg transactions to approximately £233m. We’ll get more news about the trust’s finances when it releases its annual results, covering the year ended to 31 December 2019, on 9 March 2020.
Hg has entered into an agreement to acquire stakes from Keensight Capital and Pléiade Venture in smartTrade Technologies, a leader in multi-asset electronic trading solutions, headquartered in Aix-en-Provence, France. David Vincent, CEO & co-Founder, and the smartTrade management team will remain invested in the business alongside Hg.
smartTrade is a managed services and hosted software provider for trading desks and a global leader in this sector. smartTrade’s liquidity management solutions enable financial institutions to develop and run high-performance trading platforms throughout the world. The business has expanded rapidly in recent years and today has a global client base, with subsidiaries around the world, including in London, Geneva, Milan, New York, Tokyo and Singapore.
Hg has been investing in Capital Markets and Wealth and Asset Management technology for almost 20 years and has known the smartTrade team since 2015.
David Vincent said: “The success of our business is based on continued innovation and technological advancement, putting R&D at the heart of our business. Welcoming Hg, a real expert in software and technology in this sector, creates a truly compelling offering. I am personally very excited about the prospects of the business. Keensight Capital and Pléiade Venture have played a decisive role in our growth to date, and we are grateful of their involvement. Now, with Hg’s support, alongside the smartTrade team, I am committed to further developing a great service for our customers, as they look to modernise their own systems.”
This proposed investment is subject to French workers’ council consultations and customary clearances. The terms of the transaction are not disclosed.
HGT : Hg Capital investment in smartTrade Technologies