Hg Announces Investment in NContracts
Hg, the Manager of HgCapital Trust plc (“HgT”), today announces an investment in Ncontracts.
Ncontracts, a leading provider of integrated compliance, risk, and vendor management solutions to the financial services industry, also announced today that it has acquired Venminder, a unified platform for managing third-party risk.
Hg has bought out prior Ncontracts shareholder Gryphon Investors, as well as prior Venminder shareholders. The terms of the transaction are not disclosed.
HgT will invest approximately £30.7 million in Ncontracts, with other institutional clients of Hg investing alongside HgT through the Hg Genesis 10 Fund.
HgT, 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 these figures only relate to HgT’s share of Hg’s overall investment in Ncontracts.
HgT’s liquid resources available for future deployment (including all announced transactions, and the undrawn balance on the bank facility) are estimated to be £466 million (19% of the estimated 30 June 2024 NAV of £2.4 billion).
The investment will reduce HgT’s outstanding commitments to invest in Hg transactions to approximately £683 million (28% of the estimated 30 June 2024 NAV).