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Overview

HgCapital Trust plc (LSE:HGT) gives investors exposure through a liquid vehicle to a portfolio of high-growth private companies in the software and services sector. The selection of new investments and creation of value in these businesses are managed by Hg, an experienced and well-resourced private equity firm with a long-term track record of delivering superior risk-adjusted returns for its investors.

HGT has assembled a portfolio of more than 35 companies, sharing similar characteristics, yet differing in size and maturity. This creates a natural environment for knowledge-sharing, creating a network effect to drive best practices and value-creation initiatives – ‘ the power of the portfolio’. This approach enables the underlying businesses to benefit from being part of one larger organisation, while retaining their own identity with each management team, incentivised by their own success.

www.hgcapitaltrust.com

Directors

  • Dr Jim Strang (NE Chairman): NED at The Business Growth Fund, senior adviser the the private equity group at Bain & Company
  • Richard J. Brooman (Independent NED)
  • Anne West (Senior Independent NED)
  • Peter Dunscombe (Independent NED)
  • Dr Guy Wakeley (NED)
  • Pilar Junco (NED)

Financials

P&L31 Dec 2021
£~
31 Dec 2020
£~
Net Asset Value (£~000)2,005,7241,291,016
NAV/share440.5310.3p
Full Year Dividend/ Share7p5p
Balance Sheet31 Dec 2020
£~000
31 Dec 2019
£~000
Total fixed asset investments1,024,116788,013
Cash at bank21,6484,558
Total current assets268,070252,516
(Creditors)(1,170)(1,231)
Net Assets1,291,0161,039,298

Major Shareholders

Schroder & Co- 8.55%
M&G IM – 5.26%
Hargreaves Lansdown – 4.97%
Oxfordshire County Council – 4.40%
Rathbones IM – 4.33%
Embark Investment Services – 4.16%
Interactive Investor – 3.90%
Brewin Dolphin – 3.24%

Media Coverage

Shares Magazine (July 2022)
“Going cheap: investment trusts trading on wider than normal discounts. Mid and small cap trusts are among the parts of the market offering bargains.”

Daily Telegraph (Sep 2021) Questor
“Questor investment trust bargain: HgCapital may not boast the share price discount of many rivals but its returns have been spectacular.”

Macro Indicators

Investors Chronicle (June 2022): “Private equity steps up plc bargain hunt” 

“Buyout funds lead the latest bidding round for UK companies, with international competitors making most of the moves.”

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