Hg, the manager of HgCapital Trust PLC, announced that it has launched a strategic investment in Financial Express, a retail investment fund-focused software and data analytics company.
Through the Mercury 2 Fund, HGCapital Trust will invest approximately £7.5 million in Financial Express, which serves clients in the U.K. and Australia. Other HG institutional clients are expected to invest alongside it.
The transaction, whose terms were not disclosed in a May 14 London Stock Exchange filing, is subject to regulatory approval.
The manager said the investment will reduce its outstanding commitments to invest in HG transactions over four to five years to roughly £587 million.
Cardean Bell, Linklaters and Deloitte advised Hg on this transaction, while Portico Capital, Travers Smith and EY advised Financial Express.