Company summary
HgCapital Trust gives public-market investors access to investments managed by Hg, a specialist private-equity manager focused mainly on software and technology-enabled service businesses.
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HGT
Hg Capital Trust
Investment Trusts
- Index
- FTSE 250
- ISIN
- Not specified
- Book status
- 2026 edition — current
Key activities
Investment alongside Hg private-equity funds in private software, business-services and technology-enabled companies, plus co-investments and management of liquidity for new commitments and distributions.
Key markets
Primarily European and North American software and service businesses serving corporate and professional customers globally.
Key drivers
Portfolio-company earnings growth, software valuations, successful exits, new Hg investments, private-equity deal activity, cash realisations and movements in the trust's discount to NAV.
Key risks
Private-asset valuation uncertainty, illiquidity, leverage within portfolio companies, weak technology valuations, delayed exits, concentration and a persistent discount to net asset value.
Recent Developments
4 June 2026: Hg outlined plans to deepen investment in artificial intelligence across its software portfolio. During July the platform remained active with new investments, including Street Group, as Hg continued deploying capital into software and technology-enabled services.
Dividend notes
Pays semi-annually, although capital growth is the main objective. The 2025 final dividend of 3.0p went ex-dividend on 19 March 2026 and was paid on 12 May. The Board has indicated an expectation of at least 5p of annual dividends in normal circumstances.
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