TIDMHGT
RNS Number : 3268V
HgCapital Trust PLC
10 December 2021
Hg, the Manager of HgCapital Trust plc ("HGT"), today announces
an investment in Fonds Finanz, a leading tech-enabled financial
intermediary pool in the German insurance sector. Terms of the deal
are not disclosed.
HgCapital Trust plc will invest approximately GBP8.0 million in
Fonds Finanz, with other institutional clients of Hg investing
alongside HGT through the Hg Mercury 3 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 HGTs share of Hg's
overall investment in Fonds Finanz.
HGT's liquid resources available for future deployment
(including all announced transactions, and equity raised via tap
issuance) are estimated to be GBP303 million (16% of the pro-forma
30 September 2021 NAV of GBP1.9 billion).
The investment will reduce HGT's outstanding commitments to
invest in Hg transactions to approximately GBP410 million (22% of
the pro-forma 30 September 2021 NAV).
Fonds Finanz secures investment from Hg
to enable further tech innovation and expansion as a leading
financial intermediary pool across Germany
Munich, Germany. 10 December 2021: Fonds Finanz, a leading
tech-enabled financial intermediary pool focused on the German
insurance sector, today announces that is has secured a majority
investment from Hg, a leading software and services investor.
Founded in 1996 and headquartered in Munich, Fonds Finanz serves
more than 28,000 customers including brokers, distributors,
insureTechs and banks across Germany. With a comprehensive
software, advisory and service offering, Fonds Finanz gives
customers access to a full-service platform, comprising products
from more than 500 insurance and financial product vendors in Life,
Health, Property & Casualty and Investment funds.
Hg brings to the partnership an extensive network across the
insurance sector in Germany and the United Kingdom. Partnering with
Hg will enable Fonds Finanz to further optimise the business, with
an opportunity to enter several additional customer segments, and
to acquire attractive businesses to further broaden the Fonds
Finanz service offering and to drive innovation by acquiring
complementary technology.
Co-founders Norbert Porazik and Markus Kiener, will continue to
run Fonds Finanz and will lead the future development of the
company. Both founders remain significant shareholders in the
business. The terms of the transaction are not disclosed.
Norbert Porazik, co-founder of Fonds Finanz, said: "This is
another important milestone in Fonds Finanz's over 25 years
history. We warmly welcome the team from Hg. Together we see a
significant opportunity to invest further to provide more
customers, with more services, with better technology and across
additional segments than has been possible previously."
Markus Kiener, co-founder of Fonds Finanz, said: "I'm really
proud of all the colleagues who have worked so hard to put us into
this great position as a business. The future is looking very
bright for the Fonds Finanz team, and for our customers as we will
be increasingly better positioned to service their needs. We're
thrilled to partner with Hg, an expert tech and service investor
who can project us forward on this journey."
Benedikt Joeris, Director at Hg, said: "Fonds Finanz occupies a
central position in the insurance eco-system across Germany. Over
the last decade we've got to really know this sector and we
instantly recognised Fonds Finanz as a high value-add channel for
insurance companies. We're really excited to support Fonds Finanz
on its journey, not least because we think technology will play an
ever increasing role for the business going forward."
For further details:
Hg
Tom Eckersley +44 (0)208 148 5401
HgCapital Trust
Laura Dixon +44 (0)20 8396 0930
Brunswick
Samantha Chiene +44 (0)207 404 5959
Hg@brunswickgroup.com
About HgCapital Trust plc
HgCapital Trust plc, whose shares are listed on the London Stock
Exchange (ticker: HGT.L), 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. For further details, please see
www.hgcapitaltrust.com.
The contents of the Hg, HgCapital Trust and Fonds Finanz
websites are not incorporated into, and do not form part of, this
announcement.
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END
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