HgCapital raises £2 billion for European buyout fund

17 April, 2013 London

HgCapital today announces the 15 April 2013 final closing of its latest private equity fund, HgCapital 7.  The £2 billion fund will provide broad coverage of the Northern European mid-market through its four sector teams, dedicated portfolio management group, and investment offices in London and Munich.

Prior to the launch, HgCapital set the hard cap at £2 billion in accordance with its investment strategy, diversification targets and capacity to invest and manage its portfolio to achieve optimised returns for investors.  HgCapital maintained this hard cap despite the fund being significantly over-subscribed.

HgCapital 7 is supported by a number of the industry’s most respected institutional and private investors.  The fund’s commitments are well diversified by geography, investor type and commitment size, with the largest commitment coming from HgCapital Trust plc with a £200 million investment in the fund.

Craig Donaldson, Partner and Head of Business Strategy and Client Services said: “We are extremely grateful for the support we have received from investors and we are thankful that our clients have helped position us for success.  Ultimately, HgCapital 7 will be measured not by its fundraising success, but rather the returns generated for our clients.”

Proskauer LLP provided legal advice and Credit Suisse Group advised on the fundraising.

Source:  HgCapital

Related Links:  www.hgcapital.com