Hg, manager of HgCapital Trust, has agreed to invest in OneStream, the US-based enterprise finance software group listed on Nasdaq, alongside other institutional clients.

The size and valuation of the transaction were not disclosed. HgCapital Trust will commit about £93m to the investment, with additional capital provided through Hg’s Saturn fund.

The London-listed investment trust provides private and institutional shareholders with exposure to Hg’s portfolio of software and services businesses. The figures disclosed relate only to HgCapital Trust’s portion of Hg’s overall investment in OneStream.

Following the transaction, HgCapital Trust expects to have liquid resources of about £402m available for future investments, equivalent to 16 per cent of its pro forma net asset value of £2.5bn as at 30 September 2025. This figure reflects all announced transactions, the interim dividend paid in October 2025 and available bank facilities.

Outstanding commitments to invest in future Hg transactions are expected to fall to roughly £1.7bn, or 68 per cent of the trust’s pro forma net asset value at the end of September.