Private equity investor Hg has completed the sale of GTreasury, a US-based provider of treasury and risk management software, to Ripple, the blockchain payments group.
HgCapital Trust (HgT) said the exit values its stake in GTreasury at about £30mn. The figure represents an uplift of £15mn, or 97% (equivalent to 3.2p per share), compared with the carrying value of the investment as of 31 August 2025.
These figures relate only to HgT’s portion of Hg’s broader investment in GTreasury.
Following the disposal, HgT’s pro-forma net asset value (NAV) is expected to rise to £2.5bn, or 544.5p per share, based on the August valuation.
HgT reported available liquid resources of about £383mn, equivalent to 15% of its pro-forma NAV. This figure includes all announced transactions, a £375mn bank facility (of which £28mn was drawn at the end of August), and the interim dividend due for payment in October 2025.
The trust’s outstanding commitments to future Hg transactions stand at roughly £1.7bn, representing 69% of the August pro-forma NAV.