HgCapital Trust PLC, managed by HgCapital LLP., plans to invest £31.6 million in Argus Media Ltd.
This transaction is subject to regulatory approval.
Alongside Hg's other institutional clients, HgCapital Trust will invest via the HG Saturn Fund. Hg will become a joint shareholder in Argus, alongside Chairman and CEO Adrian Binks, fellow private equity firm General Atlantic, and the management team.
Arma Partners and Freshfields Bruckhaus Deringer served as advisers to General Atlantic, while Macfarlanes advised Argus. Deloitte and Skadden acted as advisers to Hg.
Argus is a provider of energy and commodity price reporting, news and analysis.
HgCapital Trust is listed on the London Stock Exchange, and invests in a portfolio of high-growth private companies in the software and services sector.
HgCapital is a private investment firm specializing in direct and fund of funds investments.